Character BRRRs with Elizabeth Milder & Cole Skelly

<p>What you’ll learn in just 17 minutes from today’s episode:</p> <ul><li>Learn what character homes are, and how to go about the BRRRR strategy with these types of properties </li> <li>Find out what the approximate revenue you can earn, from renting out renovated units in character homes </li> <li>Learn about the essential points to consider when going for the BRRRR strategy with character homes </li> </ul> <p>Resources/Links:</p> <ul><li><a href='http://www.expansionproperties.com/'>www.expansionproperties.com</a> </li> </ul> <p>Summary: </p> <p>Elizabeth Milder & Cole Skelly are experts in the application of the BRRRR method (Buy-Renovate-Rent-Refinance-Repeat) of real estate investing in the Victoria market. By identifying properties with the potential for adding square footage, Cole and Elizabeth add massive value to the properties they purchase, converting single-family homes to multi-unit rentals (2, 3, and 4 units). After many properties and lessons learned, and 2 spec houses under their belts, Expansion Properties was formed.   In this episode, Elizabeth and Cole talk about the strategy they specialize in, the BRRRR, where they especially get character homes to renovate and turn into rental units for them to generate cash flows and revenues. </p> <p>Topics Covered: </p> <p>01:40 – What is a BRRRR strategy </p> <p>03:18 – What are character homes? How do they differ from historical homes? </p> <p>05:08 – Getting a look at how the BRRRR strategy works with character homes </p> <p>09:19 – Advantages of construction financing </p> <p>10:33 – How much cash flow do they generate from renting out the units </p> <p>11:46 – Approximate gross revenue per month for these kinds of properties and how much is a bank’s appraisal for them </p> <p>14:06 – Number of years they been doing BRRRR strategy </p> <p>15:18 – How do they get the work done with renovating the buildings and homes they acquire </p> <p>17:09 – Recommendation and advice to anyone interested in the same str