Riley Oickle can help you purchase your first income property and gain $1,000 per month in passive cash flow without having money or mortgage capability.
Perfect for beginners.
If you live in the U.S. or Canada, can devote at least five hours a week to this, and wanna scoop up a duplex, triplex, or fourplex in the next five months or less, Riley’s the guy for the job.
He’s got a portfolio of seven units currently, sprinkled throughout Ontario, where he’s from.
How ’bout we pop the cork on this review and see what spills out?
Riley suggests you focus on one city instead of multiple locations.
Consider population size, demographics, neighborhoods, property prices. Search for evergreen areas that A+ tenants are attracted to.
Once you’ve got your city, begin scoping out two to four unit multifamily properties. How come? There’s lots of ’em, all kinds of financing options available, you can grow your rental portfolio faster than you can with single family homes, and it’s way less complicated than commercial real estate.
From there, you need to the pick the right investing strategy.
So what’s it gonna be? Rent to own? Wholesaling? Flipping?
Nope. BRRRR: Buy, Rehab, Rent, Refinance, Repeat.
“I chose the BRRRR strategy,” Riley explains, “because I can recycle the money I used for the down payment and renovation costs over and over and over again. Here’s how it works. You find the right property in your chosen city. Analyze it. Crunch the numbers, do a walkthrough. Submit an offer. Negotiate. And then close the deal.”
“Then you do the rehab,” he continues. “The trick is deciding what to renovate. Be strategic so that you’re only doing the things that increase the property value.”
“After that, it’s time to rent it out. Publish and market your listing. Screen potential applicants. Move in the right tenants.”
“Now it’s time to refinance your property, which allows you to get back anything you spent on the down payment and fixing up the place. From your refinance check, you can then put that money toward the next property.”
“Rinse, repeat,” Riley says.
Riley realized people get rich by holding onto their properties.
He looked at the wealthiest people in Canada. Contrary to popular belief, they don’t all manufacture maple syrup. Soar-ee. They buy and hold real estate. Over time, their assets appreciate in value and compounding kicks in.
This is why Riley went with the BRRRR strategy. It was the brightest crayon in the box.
What I wanna know: how’d he come up with the down payment and rehab budget for his first multifamily? Other people’s money, apparently.
So, if your bank account’s drier than the Sahara and your credit score’s lower than what Shawty got in that one Flo Rida song, listen up.
A joint venture is your workaround, Riley says. You partner with someone who has the means but not the time or interest to do all the legwork. They cut the check, you execute, and you chop the profits 50/50. Sure beats owning 100% of nothing, right?
Riley’s only regret is not pursuing BRRRR plus joint ventures earlier. Which is why he created his coaching program.
“I put this program together,” he says, “because I wish something like this had existed when I was starting out, to allow me to condense my learning curve and accelerate my journey to buy my first income property.”
“We can offer you full guidance and mentorship from start to finish, to help you take the right steps toward your first property.”
So there you go. Compelling pitch, likable dude.
But the cost is unspecified, and there are no testimonials or case studies to review, which makes it hard to move forward.