Many of the key fundamentals of BRRRR-ing an apartment building are the same as BRRRR-ing a property 4 units and below. You have to force the appreciation by improving that asset!
With apartment buildings this is achieved by improving the Net Operating Income of the building. How do we do this? By renovating the units and renting them out at a premium. Higher NOI = Higher Valuation.
Once the valuation is improved, the building is refinanced to access the equity, we repay our lenders and we buy another building thus repeating the process!
