Oct 18 2023 37 mins
Working and saving to buy rental properties works! Until you run out of cash. So how do you continue to grow your portfolio beyond that? In this episode, learn how Brian Grimes leveraged BRRR deals (over 300 of them!), creative financing, and virtual assistants to build a system that can scale infinitely.
Highlights from the episode:
- You have to become an expert on each facet of the business from acquisition to repositioning to management, and then train others to take over that task for you. Brian has virtual assistants doing everything from deal analysis to leasing to maintenance
- Your role is to be the architect of the whole system (eg, work on your business, not in your business) and to make sure all the pieces are working in sync
- Creative financing is a way to create a win-win situation for both the buyer and the seller, where the seller can get completely passive cash flow while the buyer gets to buy a deal with little cash out of pocket
- Brian talks about Section 8 and co-living, two different but highly profitable strategies for landlords that provide affordable housing solutions for tenants
- If you can systematize your operations with boots on the ground and VAs for aircover, you can operate in multiple markets all over the country
About the guest: Brian K. Grimes, Jr. CFP® is an Ivy League educated real estate entrepreneur and coach. Upon graduation from Columbia University in 2011 he embarked on a career in Financial Planning at AXA Advisors before transitioning to high net worth asset management at Bridgewater Advisors. In 2015, Brian launched his own real estate development company in his home town of Philadelphia, and has since gone on to gut renovate 300+ rental properties across the country using the BRRRR strategy. He is raising his sons, Brian III and Tomas, in the Bronx with his wife, Zila Acosta-Grimes.
To get in touch with Brian:
- IG: briangrimes_247cfu
- YT: @BrianLovesCashFlow
- 24/7 Cash Flow University was founded by Brian to teach students how to create passive income and escape their 9-5 desk job. Brian teaches students how to full-gut renovate, acquire, and stabilize cash flowing rental property portfolios
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