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Top related persons:
Craig - 2 it's - 2 — - 1 Adam Craig's - 1 He's - 1 we've - 1 that's - 1 doesn't - 1
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Cleveland , Ohio
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Business - 2 Service - 1 Rocket Mortgage - 1

Search resuls for: "Adam Craig's"


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☆ A real-estate investor with a 30-unit portfolio shares the exact numbers on a property he rehabbed and rented out near Cleveland — including his monthly expenses and cash flow
  + stars: | 2024-03-13 | by ( William Edwards | ) www.businessinsider.com   time to read: +5 min
Read previewThe BRRRR method — that's buy, rehab, rent, refinance, and repeat — has been Adam Craig's bread-and-butter strategy for real-estate investing over the last decade. From $42,500 to $148,000In 2020, Craig purchased a property on the outskirts of Cleveland, Ohio for $42,500, according to a settlement statement. By this point in his investing journey, Craig had excess cash flow coming in from many other properties, which could cover his costs. This also puts first-time investors more at risk, given that they may run into unforeseen repair costs, Craig told Business Insider. "In general, if you're getting a property that's way below market that's a BRRRR property, the risks should be less because you have a lot more wiggle room," he said.
Persons: —, Adam Craig's, He's, Craig, we've, that's, it's, doesn't Organizations: Service, Business Locations: Cleveland , Ohio
☆ A real-estate investor who owns 30 residential units shares the strategy he used to build up most of his portfolio without using his money — allowing him to bring in over $18,000 in monthly cash flow
  + stars: | 2024-03-06 | by ( William Edwards | ) www.businessinsider.com   time to read: +5 min
"My internet business was doing pretty well — I was mid-20s making about $200,000 a year, and I thought I would be able to just self-sustain the growth in my real-estate business," Craig told Business Insider. Using the BRRRR strategy mostly via hard money lenders, Craig has built up a portfolio of 31 residential units today, according to property tax records viewed by Business Insider. The BRRRR method broken downEssentially, BRRRR investors make a profit by putting in the work to fix up a property. Craig said using the BRRRR strategy in today's market is riskier than in the 2010s or a few years ago. Other real-estate investors using the strategy have also cited slower-than-expected work from their contractors, leaving them on the hook for the mortgage payments in the meantime.
Persons: Adam, Craig, didn't, it's Organizations: Business, Rocket Mortgage
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