Mastering BRRRR Deals with James Dainard

Passive Wealth Strategy Show - Real Estate for Busy Pros

As a Managing Principal, James is responsible for the development and execution of corporate strategies, marketing, and property acquisitions. James has been actively investing in multifamily and single-family units in the Puget Sound region for over 12 years and has led his team to over 3,000 transactions. His over a decade of experience investing in multi-family and single-family units in the Puget Sound region has guided Heaton Dainard to more than 131 million in sales volume from 265 transactions in 2021. James has received multiple awards and recognition for his role in growing Heaton Dainard into one of Washington’s Fastest Growing Private Companies in 2013, 2014, 2015, and 2016. Puget Sound Business Journal also recognized James as a 40 under 40 honoree.

[00:01 - 13:30] BRRRR Investing: How to Avoid Common Mistakes

• Doing a BRRRR deal in a bad market from preparation to full implementation
• Mitigating the risk of BRRRR deals by providing budgeting and contractor referrals
• Buying a property at a discount and adding value to it to increase its value, then refinancing

[13:31 - 21:24] Tips for Success in BRRRR Investing

• Be aware of the bank requirements for financing and seasoning a loan
• Understand the repairs that will be necessary to bring the property up to its appraised value
• How banks look for signs of over-inflated values or missed opportunities to improve the property

[21:25 - 28:45] Closing Segment

• A quick break for our sponsors
  • The first step to growing your wealth is tracking your wealth, income spending, and everything else about your finances. You can start tracking your wealth for free and get six free months of wealth advisor. Learn more about Personal Capital at escapingwallstreet.com

• What is the best investment you've ever made other than your education?
  • His first deal

• James Dainard’s worst investments
  • A massive short on Tesla stocks

• What is the most important lesson you’ve learned in business and investing?
  • Pick the right partners and relationships

Connect with James Dainard through Instagram, BiggerPockets Podcast, YouTube, and https://jamesdainard.com/.

• JamesDainard.com
• IntrustFunding.com
• HeatonDainard.com

Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.

Join our Passive Investor Club for access to passive commercial real estate investment opportunities.

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes

Tweetable Quotes:

“You have to understand the construction costs. And if you don't, you really want to make sure you get a home inspection on your property and then try to get a bid from a contractor during that feasibility or inspection timeline because that's going to tell you where your numbers are if you don't already know them.” - James Dainard

“Make sure that your partners or anybody you're working with have the same integrity and have the same core values. And also, they have the same work ethic… Your potential growth is unlimited when you have the right team around you. And the most important person in your team is your partner.” - James Dainard