Can You Really Still BRRRR in Florida?

Can You Still BRRRR in Florida? Let’s Set the Record Straight

Let’s cut through the noise—Florida might be hot, but that doesn’t mean the BRRRR strategy is cooked. BRRRR (Buy, Rehab, Rent, Refinance, Repeat) is alive and well—if you know how to play the game right. And no, it doesn’t involve snow or sweaters—just smart investing.

I’ve personally used BRRRR to build my entire portfolio. Jay and I still lean on it every day to help investors create wealth the long way—not the flashy way.

The Market’s Changed. The Strategy Hasn’t.

People love to say, “BRRRR doesn’t work anymore.” Usually, that means they tried it once, overpaid, and hoped the refinance would save them. That’s not a strategy—that’s wishful thinking.

We’re still using BRRRR deals across Tampa and surrounding markets. And yes, even in 2025, the numbers can work. You just have to be surgical.

BRRRR vs. Flipping: A Reality Check

Let’s break this down with simple math:

The Flip Play:

• Purchase: $200K

• Rehab: $100K

• ARV: $400K

• After fees, holding costs, etc., maybe you net $50K

• But… you’re done. No more asset. No more upside.

The BRRRR Way:

• Purchase: $200K

• Rehab: $50K

• ARV: $350K

• Refinance at 85%: Pull out $35K

• Keep the property, collect rent, gain appreciation, enjoy tax perks

Bottom line? With BRRRR, you still own the wealth-building asset. That’s where the real magic happens.

Where We’re Still Finding BRRRRs

We don’t chase shiny zip codes. We hunt for the “high end of the low end.” Jay and I look for neighborhoods on the edge of transformation—not the ones that have already arrived.

Our favorite signs of a BRRRR-ready area:

1. Contractors on the block – New roofs, dumpsters = investor activity.

2. Zoning moves – Planning meetings, rezoning updates = future upside.

3. Retail evolution – A Starbucks popping up next to a run-down auto shop? Yeah, we’re paying attention.

4. Rent trends – Rents on the rise? That’s your signal—it doesn’t need to be perfect, just moving in the right direction.

Why Patience Wins in 2025

The quick flip crowd is frustrated. But BRRRR is never about speed—it’s about wealth that compounds. Interest rates? Still higher than 2021, sure—but rental income is rising and inventory’s still tight.

If the deal cash flows at today’s rate, it’ll shine even more when rates eventually dip (and yes, we believe they will).

Avoiding the Rookie BRRRR Mistakes

If you’re gonna BRRRR, avoid these traps:

• Paying retail in trendy areas – There’s no upside left to force.

• Over-improving – You’re not building a dream home, you’re creating a cash machine.

• Skipping the rent math – If it doesn’t cash flow post-refi, it’s not a BRRRR. It’s a regret.

Jay calls it “Tonka thinking”—strong, simple, and built to last. No fluff, just smart function.

Play the 5–7 Year Game (Win Twice)

Here’s how our two-wave BRRRR system works:

• Wave 1: Rehab adds instant equity

• Wave 2: Over the next few years, the neighborhood improves and property values rise again

You get paid on the buy AND again down the line. That’s the long-term play that flippers miss.

Funding: It’s Not About You—It’s About the Deal

You don’t need to be rich to BRRRR. Here’s how our investors fund these deals:

• DSCR Loans – The bank looks at property income, not your paycheck.

• Private Money – The deal brings the dollars, not your resume.

• Joint Ventures – Split the profits, share the hustle.

There’s plenty of money out there. You just need a plan that works.

Tax Time? BRRRR Wins Again

Flips = big tax hits. BRRRRs = big tax breaks. Here’s what you’re working with:

• Depreciation

• Mortgage interest write-offs

• Cost segregation perks

• Passive income offsets

• Long-term capital gains

Bottom line: BRRRR helps you keep more of your money. And that adds up fast.

Why Property Management Makes or Breaks the Strategy

Let’s not pretend: BRRRR isn’t passive unless the backend is strong. We manage over 300 properties and here’s what keeps them humming:

• Good tenants, properly screened

• Fair rent pricing (but never under-market)

• Quick maintenance

• Tight vacancy control

If your property manager drops the ball, your whole strategy crumbles. That’s why we built our own team to handle things right.

The 100% Refi Myth

Is it possible to get all your money back out of a deal? Yes. Should that be your goal every time? No.

When people obsess over hitting 100% returns, they stretch comps, fudge rehab budgets, and overleverage. We prefer the consistent 75–85% return that keeps the portfolio growing without putting you at risk.

Want more on this? We cover it in-depth in our article: 100% Return in BRRRR Isn’t Always a Good Idea. Read it here.

From House Hacking to 30+ Doors

I didn’t start with cash. I started with hustle. My first move? A simple duplex. Lived in one unit, rented the other. Then I refinanced, pulled out some equity, and did it again. Rinse and repeat.

Every deal passed my personal BRRRR filter:

• Would it cash flow in a worst-case scenario?

• Could I hold it long-term, even if the market slowed down?

That formula took me from zero to over 30 properties. If I did it, so can you.

The 2025 BRRRR Mindset

If you’re dreaming of 2020 pricing and 3% rates, you’re in the wrong year.

Here’s how we win in 2025:

• Be patient – Good deals aren’t obvious

• Let the numbers lead – Not your emotions

• Strike fast when it works – Opportunities don’t wait

• Stick with solid areas – You don’t need the trendiest zip code

Our Final Word

Jay says: “BRRRRs are evolving. You can’t cut corners now. You have to analyze deals carefully, but the opportunity is still there if you’re focused.”

Jorge says: “If I had to start over, I’d go BRRRR all over again. It’s the most repeatable path to long-term wealth I know.”

We’re not here chasing hype—we’re building legacy portfolios, one smart deal at a time.

Written by Jorge Vazquez, CEO of Graystone Investment Group & companies, and Jay Michalec, COO of Graystone Investment Group

Coaches at the Property Profit Academy

http://propertyprofitacademy.com

Keep it consistent, stay patient, stay true—if I did it, so can you! Ready to connect and strategize? Contact me at graystoneig.com/ceo – Jorge Vazquez, CEO of Graystone Investment Group & its subsidiary companies and Coach at Property Profit Academy.

Property Profit Academy:
✔ Learn to buy properties with little to no money down.
✔ Build a $10M portfolio step by step.
✔ Master strategies like BRRRR and house hacking.

Meet our Team of Experts!

My team and I bring over 20 years of real estate experience, with deep roots in Florida’s investment scene. As a licensed MLO, I’ve helped close millions in loans and investor acquisitions. We’ve built strong relationships with wholesalers, probate attorneys, and sellers to source real deals—not just listings. My goal is simple: align your investments with your vision and deliver results that exceed expectations. Connect with Cody at https://graystoneig.com/cody

Hi, I’m Lisa-Kaye Price, Real Estate Lending Specialist at Graystone Investment Group. With 20 years of experience as both a licensed Realtor® and Mortgage Loan Originator, I specialize in helping investors secure smart financing for powerful real estate moves. Let’s connect and talk strategy! Connect with Lisa at https://graystoneig.com/lisa-kaye-price

Jay Michalec is the COO of Graystone Investment Group and a proud U.S. Army veteran. With 25 years in hospitality, Jay brings leadership, service, and operational excellence to real estate. He’s known for keeping things running smoothly and supporting both the team and clients every step of the way. 📅 Connect with Jay: https://graystoneig.com/jay