How To BRRRR A 26 Unit Multifamily Investment Property From Start To Finish (Full Deal Analysis)
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- Опубликовано: 8 фев 2025
- #BRRRR #Multifamily #Realestateinvesting
In this video, real estate investors Chris Lopez & Terrance Doyle show you exactly how to BRRRR a 26 unit multifamily investment property!
Learn how to invest in real estate by joining the BiggerPockets community! - www.biggerpock...
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I have to say guys - I just bid on a 34 unit building in Ontario (first ever one) and came across this video.... you guys are absolute beauties for putting something out there like this and not even charge for it. The AMOUNT of time to go through this and put the video together even. Really cool! (ps would be great to see it post reno too)
I love this channel so fucking much. I turned 19 last month, I'm literally getting so much information, its astounding. Thanks alot bigger pockets 😁
Man start house hacking now bud,
save your fha for a 4plex.
Do something with it bro
Such a valuable channel that keeps giving me motivation/information. Thank you BiggerPockets!!
I would love an update on this.
have you guys conducted your Cash out refinance? What did your appraisal come in at? And what about your interest rate?
Valuations and interest rates are not where they were a couple of years ago
These full deal analysis are amazing learning tools
These are so great. Please do more of these walkthroughs.
These are my fav videos as of lately
As always, quality videos right here!
How do you analyze deals? “ I use the biggerpockets calculator.”
Proceeds to pull out a well laid out custom spreadsheet . 😂
SOOOOOOOOOOOOOOO LOVED THIS EPISODE! VERY THOROUGH- LEARNED MORE ON MULTIFAMILY THAN I HAVE ON A 3 DAY SUMMIT! THANKS INDI OHIO
This is awesome content. Thank you
Extremely educational, thank you!
Would love to see how it looks after renovations.
Hi guys. Great video. Question; What do you do with the current residents while doing the renovation? Thank you.
Great video. I don't live in that state , but those reno prices are really cheap.
Thanks for sharing your strategies 👌👍
Great work - I have seen few of these deals and i would like put these in a simpler/crude way. Put 20% down, another 10% on repair/renovation then increase rents by 30%. Re-finance at increased valuation and get your 20% back and you got free equity in the property for ever. I guess the key is find properties where you put 10% in renovation that increases 30% in value.
Direct mail to off market properties or look for properties with very low market rents. Easiest way to hit a home run.
@@ryanshort6021 bingo
Being a contractor I can you tell you right now hes pretty far off on a lot of the reno costs. Hope hes got some room in the budget, cause I dont know any contractors that arent on meth that would touch any of that work for those prices.
Based on the terminology he uses, as well as the dollar estimates, he seems like a guy who is not at all involved in the actual reno work. He's going to paint laminate countertops in a rental? He'll have to do it every time he changes tenants. Because that stuff will surely scratch.
How many contracts have you accepted to rehab and reno 25 units in a complex?
@@ronlabe5487 I've done multiple 10+ and a few 30+ multibuilding renos. Ranging from cosmetic to gut jobs.
@@steveelling9604 Right. I dont recommend painting laminate except in hotels cause the budget is generally much lower per unit and can get away with much cheaper finishes. With long term tenants I wouldnt recommend unless you really need to keep budget low and are basically just painting everything. Which isnt really a "reno" its just painting lol.
@@ridenorthwest1687 How much would you specifically charge to install one wood balcony partition; when it is part of a contract to rehab a 25 unit complex? How much would you charge to paint one cabinet; as a part of a 25 cabinet package deal?
I can’t WAIT to get started! 😄
@biggerpockets Can I get that excel spreadsheet!!??? Working on closing a 12 plex this week and would love to see the numbers in that format!
How are they finding investors and do they have to be accredited?
this was great!
Is it a good idea to use your other rental money to afford the rehab
3.4 mil to 6 mil. Nice 👍
Great info!
Thank you for sharing 🙌
What is the product used to stain countertops and bathroom shower tiles please?
No idea on the countertops other then paint. but the tiles/bathtub it's called re-glazing. You can look it up and find several vendors, make sure you put plenty of masking tape and PLENTY of ventilation.
Rust-Oleum Specialty 1 qt. White Tub and Tile Refinishing Kit. Home depot
When he said that I was thinking epoxy, for the kitchen counters.
@@Pseudify me too, he wont paint his countertops knowing how smart he is
Did they cover why the Cash on Cash ROI is so high? Seems to be due to low "cash invested" of $175,000, but where is that number coming from.
No way this guy is getting new stainless steel appliances for 1000 bucks in Denver... lol.
Right. I just spent 3000 for my last flip and those were bottom of the line appliances 😂
Why not LVT in the bathroom and opting for tile?
LVT would only be water resistant not waterproof. Where as real tiles help seal the floor in the bathroom making it waterproof
Because they are not using the full vinyl LVT. There are different typed of LVT out there, some that are water resistant and others that are virtually water proof.
I'd wager they are saving some money by only getting the water resistant type throughout the units. And since it will be difficult to match the same look, just opted for regular tile in the bathroom.
Hey Terrance, you bring up Des Moines quite a bit. I’m a native Des Moinesian, and I’m looking to invest. I’d love to chat with you! Would that be possible?
He's going to "stain" the bathtub and shower tile? I believe he means re-glaze, which is a spray-on application that costs a decent amount. I sprayed a bathroom and tub for $700 recently in Florida.
It’s about $650 here in Anchorage to get a tub reglazed. Ive never heard of them doing tile though.
@@keenanfitzpatrick9104 Same process, and the same substance is sprayed, just vertically. We sprayed over some old mid-century tile on the walls (it was pink tile, people) of a rental we own. Lots of masking tape, needs heavy ventilation, takes a couple of days to fully dry. Turned out nice. Still has a vintage feel, but with fresh paint.
I use tub and tile refinishing kit from home depot for a rental. Been 5 years, still lasting. Look great. I'm sure it's probably not as thick as professional job. But it was $40.
@@nicktran939. Sounds smart.
Ok $1000 for four stainless steel appliances? Where? How?
Nice 👌
Alright boys..
Definitely concerned about the ac unit cooling the whole apartment. I feel like you should be doing better ac systems.
Some parts of the country do not need as much A/C.
@@glh280 Denver gets hot in the summers.
Have to agree about the ac. That apartment will be uncomfortable. Need to add a 2 zone mini split ductless system at minimum.
Or the tenants add another window AC if needed
Save on costs and Bottom line, mini splits would be close to $50k or more for 20 or more ujits
Man, you could see the gears in his head grinding when he was trying to explain demographics of the neighborhood to those guys lol. “How the fuuuuu do I say you don’t put granite in the hood”. 5:55 Although “urban demographic” is kind of borderline so that’s why he tossed in “professionals”
35% down? That's way too much down payment required for guys of your stature.
His reno cost is pretty low for the different projects.
This is one of the number one cards to have in your hand as a realestate entrepreneur.
Most of the more successful people in the business have a small team of core contractors that make their money off of being the go to man for the job as well as having a good relationship with the investors involved so they're more willing to do the work for low amounts because they have faith in the investors as well as being used by the group because they have good reputations.
That one tile guy he uses that one hvac he uses is more than likely being used by a dozen of his colleagues for the same work and more than happy to provide his skills for that low price because he's going to get to do it dozens more times that week or more
Lots of numbers and not a lot of knowledge understanding this stuff , where can see and understand these numbers . First time actually watching a video like this
Research
check the bigger pockets website, and google/youtube search the terms you dont know
2500 in labor to paint each building!!!? haha what the hell
Title says 26, narrator says 25. 🤔🙂
Pretty sure they said one building had an extra unit. So 6 buildings x 4 units + 1 = 25. I guess.
Painting the exterior is a poor investment. Once it’s painted it must be repainted in the future.
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He's trading system is a fit into the market, so knowledgeable to understand various or multiple market moves. I give it to him
analysis of the market and management for the maximization of profits biweekly is what Paul Helfer does on my portfolio and that of other investors.
@@aloynakairi7426 no doubt kiara, I used that same number to contact him on telegram as well
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Big disagreement about the renovations. Family dwellers want the upgrades. Such an terrible thought process
He was trying to be politically correct. I'd wager that was a lower income area. So he just defaulted to saying "family". Making renovations decisions based on the "types" of renters you are going to have is awkward enough without being filmed and put online.
What he was really saying was " In this area we can't get more rent if we put a back splash or granite countertops so we aren't going to ".
Leslie, not sure what point you are making here. Of course, everybody WANTS granite countertops, stainless appliances, custom backsplashes, rain showerheads in the bath, and fresh flooring. But at these rental price points, that's not a reasonable expectation. Having bought and sold numerous rentals over the years, many tenants and buyers think they are entitled to the high-end things they see on HGTV. Well, those upgrades in the kitchen alone are another $10k for the owner that he won't be able to recover in a blue-collar neighborhood. So it's not a "terrible" thought process. It's a responsible one.
This guy is completely dreaming on his rehab prices!! He’s out of his mind on the exterior paint and the roofing for sure.
Omg!!!!! Why don't you guys have masks on!!!!!!!! Covid!!!!!
🤣🤣🤣 too much news for you.
@@BT-jt1dj don't watch the news 🤷♂️ comment was satire haha
@@the5challenge523 Good!! Thank God 😂
Omg ewww.. germs 🤮 haha
What's Covid? Sounds errotic
WHAT??? "2018 I took him to coffee, 2019 we got really close on a deal then in the being of the year , actually in person for the first time?" WTF - I have to call bullshit. how do you take him to coffee In 2018 and not meet in person there? then you meet him for the first time in the beginning of 2020
half washed
Thank you for sharing!