Remote Property Investor

What is BRR & what is the extra R in RBRR and is there to many R’s?


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In this episode, Harvey talks about how he does Buy Refurbish Re-mortgage remotely. He explains how he finds deals that enable him to buy, get the work done quickly, and re-mortgage fast. In some cases, being able to release virtually all of the money he originally invested. He also speaks about Light Refurbish Mortgages and bridging loans, including the pros and cons of taking these approaches.

 

KEY TAKEAWAYS

 

  • BRR is – Buy – Refurbish – Re-mortgage. Something Harvey does Remotely.
  • This property investment model can be done using the cloud and your phone, while you are on the move.
  • The aim is to add enough value to be able to get a high % of your money out of the property when you re-mortgage.
  • You get most of your capital back and can buy another property, while the re-mortgaged one earns and grows in value.
  • It is important to be aware of mortgage caps when using the BRR model.
  • This method is easier to do with single occupancy properties.
  • You cannot get a revaluation unless you can prove that you have improved and added value to a property.
  • High-end-looking kitchens and bathrooms tend to generate higher valuation. Buy them at a discount to make installing them a viable approach.
  • Building up a relationship with a lender will help you to get good revaluations and deals.
  • Typically, you have to wait 6 months to 2 years to re-mortgage
  • Bridging is another option, which enables you to represent yourself as a cash buyer.
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    BEST MOMENTS

    ‘I like leaving no more than 6/7k in a deal. ´

    ‘You do tend to get a higher turnover of tenants in these professional areas.’

    ‘Banks build up trust with you and want to see that you have a bit of skin in the game.’

     

    VALUABLE RESOURCES

    💻| Join us in our remote property investing Community on Facebook

    📚| Live free training & Q&A every Sunday in the Community. 

     

     

    ABOUT THE HOST

    Harvey is the founder of Growth Properties Group, a small group of companies that help people live on their terms through property.

     

    With education, portfolio building, and property management. 

     

    He built his property portfolio and businesses in the Northeast of England, whilst living in the south, allowing him to spend time with his family and travel regularly. 

     

    Having built up the systems and team to run from his phone and largely on autopilot, he's now focused on helping others excel on their property journeys and build a remote investment lifestyle for themselves through group and 1:1 coaching programs. 

     

    His signature program, which runs 4 times per year, is the 6 Stage Remote Buy Refurb Refinance (RBRR) Blueprint.

     

    I help people to live on their terms through property & Coaching and portfolio building. 

     

    I’ve spent the last 7 years working out how to run my property business virtually from my phone. 

     

    Using tech to run my business while I’ve been travelling. 

     

    DM me clubhouse if you need help with this. 

     

    CONTACT METHOD

    👓| Find me on Facebook 

    👓| Find me on Instagram

    👓| Find me on YouTube

    👓| Find me on TikTok

     

    Podcast Description

    Welcome to the Remote Property Investor Podcast! This podcast is for people that want to create a remote life leverage lifestyle that they can live on their terms; To educate & motivate you into taking actions to make this happen.

    My name is Harvey, and I’ve been a property investor since 2009! Although I started investing locally, limited resources led me to look for investment opportunities elsewhere in the country – and thank god for that! Thanks to this I’ve been able to become a remote property investor, and I have the luxury of being able to run this business from my phone.

     

    Whether it’s from the comfort of my own sofa or from the beach on one of my travels, so long as I have a Wi-Fi connection, I’m good to go.

    Get stuck in and start listening to content all about Property Investment (remote or other), entrepreneurship, business mindset & wellbeing, systemisation, and lifestyle Evolve Your Ideas, Live on Your Own Terms.

     

    This show was brought to you by Progressive Media

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    Remote Property InvestorBy Harvey GrowthProperties