Accelerating Your BRRRR Strategy with Jared Henderson
Why you have to check out this episode:
- Find out what deals to go into to speed up your BRRRR strategy
- Find out what existing layout you need to consider for your property deals so you maximize revenue.
- Discover a property software that helps users advertise through an automated process and keeps your team organized to scale up your portfolio.
With COVID stalling many businesses and the challenges you meet, how do you pivot and find strategies that are cash flowing and provide a return on investment?
In this episode, Jared shares how he started investing in different markets and landed in Peterborough's student rentals. He also talks about the deals he focuses on that speed up his BRRRR strategy, eyeing a goal of a 100-unit portfolio when he turns 45.
Jared Henderson started investing in 2012 in the Golden Horseshoe at the other end in Niagara Falls and wound up in Peterborough after experimenting in a few different markets. The BRRRR process is his main strategy.
Topics Covered:
03:01 - What got him into real estate investing?
04:28 - From condos to duplexes and the challenges
08:13 - Raised bungalow conversion to second suites
10:38 - Why student rentals, right tenant screening
15:08 - Reason for getting into the legal conversion strategy
17:21 - Deals he looks into in Peterborough, an existing layout, areas to go for or stay away from
22:02 - Sourcing deals and his successful off-market deals
26:29 - Finding contractors, funding deals, and raising capital
31:03 - How he manages his properties
32:43 - Going over a project he just recently refinanced
40:42- His travel plans
40:54 - Book recommendation
41:26 - What he would tell his own self when he was just starting out
Episode Takeaways:
"Why do I want to get into student rentals even when people say that they just party and trash the place, which is just not true. That will happen occasionally. But most people have a damage deposit; their parents are co-signing. You're always going to get your rent; rarely, you don't." - Jared Henderson
"The real value, the real equity is working with the right team, the right property managers, the right contractors, for sure. And that includes your legal team, the right mortgage brokers, and once you get a system down, you just rinse and repeat it, because it's simply effective." - Jared Henderson
Follow Jared Henderson:
- Email: jared@buildingstack.com
Follow Ross Nedaee:
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