Buy, renovate, rent, refinance, repeat. The popular strategy known as BRRRR has been elevated and expedited by Caleb Bryant. He managed to implement the strategy on a large apartment complex and refinanced in just 3 months. Caleb and his Relentless Capital team have invested in 800+ units collectively.
Learn more about his strategy and how he went from a touring musician to touring apartment communities with his partners.
Partner: Download a Free Sample Apartment Deal Package
Key Market Insights
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Lives in Huntsville, AL and invests in Birmingham, AL
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His team has invested in over 800 doors and Caleb has invested in 170 doors
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Was touring as a bassist in a band through the Southeast Region
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Invested passively first after networking with a sponsor
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Was doing random jobs as he looked to break into real estate
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Learned real estate through podcasts and Audible while working other jobs
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Felt passive investing in a syndication was a relatively safe option
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Quit his job and got on the active side
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Met someone in Orange County and got a coach through RE Mentor
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Found current team through persistence ……and Craigslist
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Invested in a deal in the 5 Points West area of Birmingham
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5 Points West: Lots of good things happening, infrastructure, private investment
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$20MM sports complex moving two blocks away from the property
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Closed a 96 unit in January and began refinancing after 3 months
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Buy a property for 65% of what it will be worth
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Paid over $29k per door, but it was worth $40k at closing, and will be worth $50k per door when refinancing
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Larger companies – hedge fund, private companies – willing to let it go at a discount
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$2.5MM in private debt – as low as 12% interest
Partner: Be sure to check out the #InvestThis Podcast with Scott Bower
Bull’s Eye Tips:
Winning Your Market: Build your team
Tracking Market Changes: Stay in touch with people
Daily Habit: Writing goals daily
Resources:
Best Business Books:
Best Ever Apartment Syndication Book by Joe Fairless and Theo Hicks
Digital Resources
Facebook Live and Facebook Messenger
Tweet This:
“When I see an opportunity, I take it”
“Hedge funds are willing to let [properties] go at a discount”
Places to Grab a Bite:
The Fish Market in Birmingham
Connect with Caleb:
Facebook – Facebook.com/relentlesscaleb
Instagram – RelentlessInvestor
Website: Relentlesscapitalgroup.com
Phone: 615-752-8520
Subscribe on iTunes, Spotify, Stitcher or Google Play.