Ep. 107: Refinancing Apartments After Only 3 Months with Caleb Bryant

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.

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Key Market Insights

Lives in Huntsville, AL and invests in Birmingham, AL
His team has invested in over 800 doors and Caleb has invested in 170 doors
Was touring as a bassist in a band through the Southeast Region
Invested passively first after networking with a sponsor
Was doing random jobs as he looked to break into real estate
Learned real estate through podcasts and Audible while working other jobs
Felt passive investing in a syndication was a relatively safe option
Quit his job and got on the active side
Met someone in Orange County and got a coach through RE Mentor
Found current team through persistence ……and Craigslist
Invested in a deal in the 5 Points West area of Birmingham
5 Points West: Lots of good things happening, infrastructure, private investment
$20MM sports complex moving two blocks away from the property
Closed a 96 unit in January and began refinancing after 3 months
Buy a property for 65% of what it will be worth
Paid over $29k per door, but it was worth $40k at closing, and will be worth $50k per door when refinancing
Larger companies – hedge fund, private companies – willing to let it go at a discount
$2.5MM in private debt – as low as 12% interest