September 2026
MESSAGE FROM THE BOARD
BRRRR IS DEAD… OR IS IT?
If you’re getting into real estate investing in 2026, you’ve probably heard someone say:
“BRRRR doesn’t work anymore.”
Okay… but let’s pump the brakes. 
The BRRRR strategy isn’t dead.
The lazy BRRRR is.
For anyone new to real estate, BRRRR stands for:
BUY a property below market value
REHAB it to increase its value
RENT it out
REFINANCE and pull your equity back out
REPEAT with the next property
Sounds pretty simple, right?
Well… this is where things get interesting. 
YOU CAN’T JUST “BUY A DEAL” ANYMORE
Back when money was cheap and appreciation was doing the heavy lifting, investors could get away with being a little sloppy.
Today?
Your numbers better be TIGHT.
You can't buy an overpriced property, throw some paint on the walls, and pray the market saves you.
The deal needs to make sense before you buy it.
Think:
Purchase Price + Rehab + Closing Costs + Holding Costs = Your Total Investment
Then ask:
What will this property actually be worth AFTER the rehab?
That difference?
That's where your equity is hiding.
AND THAT “$30K REHAB” MIGHT NOT BE $30K
New investors LOVE underestimating rehab.
“It's just cosmetic.”
Famous last words.
Suddenly it's:
$5K plumbing
$8K electrical
$12K roof
$7K HVAC
…and somehow your “$30K rehab” became a $65K rehab.
And there goes your profit.
This is why getting multiple contractor bids, having a detailed scope of work, and keeping a contingency fund isn't being overly cautious.
It's protecting the deal.
THEN COMES THE REAL TEST: THE REFI
Here's where BRRRR gets REALLY interesting in 2026.
You might successfully buy, renovate and rent the property…
…but can you actually refinance it and pull your money back out?
Because the whole point of BRRRR is to recycle your capital.
Let's say you have:
$200K purchase
$50K rehab
$10K other costs
You're into the property for roughly $260K.
After the renovation, it appraises for $325K.
You created about $65K in equity.
But your lender isn't necessarily going to hand you that entire $65K.
Your loan amount will depend on things like the appraisal, lender requirements, loan-to-value limits, your finances, and the property's rental income.
THIS is why you need to understand the refinance BEFORE you buy the property.
Not after. 
THE 2026 BRRRR MINDSET
The new question isn't:
“Will this property go up in value?”
It's:
“How can I CREATE value?”
Find the ugly house.
Buy it right.
Renovate strategically.
Create equity.
Get it rented.
Refinance intelligently.
Then take that capital and go find the next opportunity.
Because real estate investing isn't about finding the prettiest house on Zillow.
It's about finding the numbers that make sense.
And in 2026, the investors who win aren't necessarily the ones who find the most deals…
They're the ones who know how to recognize a GOOD deal. 
So, is BRRRR dead?
No.
But the days of throwing money at a property and hoping the market bails you out?
Those days are looking pretty dead to me.
Vanessa Krynen
Chicago Area Real Estate Investors Association - Publicity
| Upcoming Events |
CAREIA
Board of Directors
|
|
CAREIA Monthly General Meeting
Monday, September 14, 2026 @ 7:00 p.m.
Networking starts at 6:45 p.m.
Hyatt of Lisle • 1400 Corporetum Drive, Lisle
Topic: From Contract to Close: Legal Secrets to a Smooth Closing
Key Note Speaker: Jill Daniels https://www.careia.org/event-6736275
Short Term Rental Sub Group Meeting
Monday, September 21, 2026 @ 7 p.m.
Portillo's Hot Dogs, 531 N. Randall Rd., Batavia, IL 60510
A FREE Member & Non-member Event
Anyone who has an interest in investing in short or mid-term rentals are invited to attend our monthly STR sub group meeting. Each month we will have an open forum to discuss all things short term rentals. https://www.careia.org/event-6736276
Real Estate Networking Night
Monday, September 28, 2026 @ 6:30 p.m.
Portillo's Hot Dogs, 235 E. North Avenue, Glendale Heights, IL 60139
A FREE Member & Non-member Event https://www.careia.org/event-6736277
Cash Flow Game Night
Wednesday, October 7, 2026 @ 7:00 p.m.
McDonald's off Highland Avenue
1 Yorktown Shopping Center, Lombard
A FREE Member & Non-member Event
https://www.careia.org/event-6811577
CAREIA Monthly General Meeting
Monday, October 12, 2026 @ 7:00 p.m.
Networking starts at 6:45 p.m.
Hyatt of Lisle • 1400 Corporetum Drive, Lisle
Topic: How to Invest in Industrial Real Estate
Key Note Speaker: Joel Fridland https://www.careia.org/event-6811578
Short Term Rental Sub Group Meeting
Monday, October 19, 2026 @ 7 p.m.
Portillo's Hot Dogs, 531 N. Randall Rd., Batavia, IL 60510
A FREE Member & Non-member Event
Anyone who has an interest in investing in short or mid-term rentals are invited to attend our monthly STR sub group meeting. Each month we will have an open forum to discuss all things short term rentals. https://www.careia.org/event-6811580
Real Estate Networking Night
Monday, October 26, 2026 @ 6:30 p.m.
Portillo's Hot Dogs, 235 E. North Avenue, Glendale Heights, IL 60139
A FREE Member & Non-member Event
https://www.careia.org/event-6811581
|
President: Keith Jablonowski
Vice President: Steven Bell
Secretary: Rob Hayes
Treasurer: Vanessa Krynen
Librarian: Dwayne Denzinger
Programing: PK Kleinert
Vendor: Brian Rothas
Newsletter: Belinda Moore
Publicity: Kinzi MacIntyre
Membership: Danny Galvez
Tech Director: Pete Gordon
__________________
Our mission
To support and
promote local real estate investors
though networking, education, support, leadership on
legislative issues,
and promoting professionalism
and standards of excellence in the
real estate
investing industry.
__________________
WORDS OF WISDOM
“In the real estate business you learn more about people, and you learn more about community issues, you learn more about life, you learn more about the impact of government, probably than any other profession that I know of.” – Johnny Isakson
|
Library Book of the Month
Never Split The Difference
Everybody negotiates, and everybody can get better at it. Chris Voss is former CIA hostage negotiator, and when he leads off a section of the audiobook by telling his own real-life story, he gets your attention. Then he gives you a bit of theory and relates it to everyday business, and follows up with practical actions to take to improve your outcomes when you negotiate for anything. Learning these negotiating skills is like learning judo and finding out how to use your opponent's momentum against themselves. Check it out!
To check out materials:
- Only members can borrow materials
- Review inventory here: https://www.careia.org/LibaryList
- Fill out CAREIA Library request form
- Receive materials at the next General Meeting
- Materials are due back in one month
- Note. If materials are not returned, member is responsible for paying cost of materials for replacement.
