Short answers.
How the hand-picked deals, the calculator and the auction list work.
What is REI Miner?
Hand-picked BRRRR properties in Gary and Lake County, Indiana, a BRRRR calculator, and Auctions: Lake County sheriff sales, upcoming and past, with judgments, opening bids, results and a parcel map.
How do the hand-picked deals work?
You buy the property, renovate it, rent it and refinance. Each listing shows the price, a rehab estimate from Horizon Build Group, the estimated after-repair value and rent. Horizon can quote and do the rehab, or you can use your own contractor.
Why BRRRR instead of buying a finished rental?
A finished rental ties up a down payment for as long as you own it. A BRRRR bought below value and refinanced at 75% of the finished value can return all of your cash, and sometimes more.
Are the BRRRR numbers guaranteed?
No. After-repair values, rents and refinance terms are estimates. Use the calculator to test your own assumptions, and get your own appraisal, inspection and lender terms.
Where does the auction list come from?
The Lake County Sheriff's published sale lists. We refresh Auctions by hand, not on a schedule, and keep past sales with their results. Sales are often cancelled or postponed, so confirm with the Sheriff before bidding.
Do you sell the auction properties?
No. Sheriff sale properties are sold by the Sheriff at public auction. We only gather the published details in one place, and the parcel map shows a property only when its address matches a county parcel exactly.
How do I ask about a property?
Use the button on the deal page or email us from the Contact page.