Tips for BRRR Deals
Meet Ryan, he’s about to give you tips for BRRR deals! You could meet him in real life by attending our free Crash Course – don’t hesitate, book it now. In this video, you get an exclusive insight into a very exciting deal. You’ll be on a tour through one of the biggest BRRR deals in Burnley. What makes this project even more interesting is the fact that it is a HMO and a student-let, a triple whammy!
Located a stone’s throw from the university, this big house will be perfect for students. Refurbishing such a large unit gives Ryan massive opportunities for adding value. He’s taking those chances with both hands by adding a games room, ensuites in every bedroom, study rooms, multiple kitchens. Plus, the bedrooms will all be of a decent size. Everything is being gutted out and redone, from the walls to the floors – everything will be new. Does it sound like a lot of work? It is but it’s also going to bring handsome profits every month.
Structure, roof and planning
Ryan loves doing student lets because from his experience the tenants never let him down with payment. Furthermore, he also enjoys doing BRRR deals and here are some of his top tips. Make sure the structure of the property is solid and sound. If there are major pieces of upholstery needed to upgrade the foundations of the building – it’s going to be an expensive headache. Check to see that the roof is in good condition. You can do this by sight but it’s always safer to get a surveyor to take a look because roofing can be seriously costly. It’s a bonus if the planning for the property is already done, because getting planning permission can be painful and potentially destroy a project before it’s even begun.