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
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