Mastering the BRRRR Method: How Keith Andrews Built a Real Estate Empire and Achieved Financial Freedom in Colorado Springs

"I bought a meth house. Worst decision ever… or the best?"

Most real estate investors would have run the other way. But what seemed like my biggest mistake—a disastrous deal that drained my savings—turned into the most profitable property in my portfolio. Not because I got lucky, but because I used the BRRRR method real estate investing strategy to turn a setback into a win.

Now, let me ask you something: What’s stopping you from investing in real estate?

Is it fear of making a bad deal? Not having enough capital? Or maybe you’re stuck in research mode, consuming endless podcasts, books, and YouTube videos but never pulling the trigger. If that’s you, you’re not alone. Most people overthink real estate investing for years before ever taking action—if they ever do at all.

And I get it. The idea of putting your hard-earned money into a property—only to have it go sideways—can be terrifying. But here’s the truth: You don’t need millions of dollars. You don’t need to quit your job tomorrow. You don’t even need to take massive risks. What you need is a proven strategy that allows you to start small, scale smart, and eliminate the biggest risk in real estate: running out of money.

That’s exactly what the BRRRR method does. It’s the same approach I used to replace my six-figure salary in just a few years, walking away from a high-stress corporate career to build a life of freedom on my own terms. And in this post, I’m going to break down how it works, why it’s the best-kept secret for creating wealth through real estate, and how you can use it to escape the paycheck-to-paycheck grind without making costly mistakes.

By the end of this, you’ll know exactly how to start your real estate investing journey—without fear, without endless second-guessing, and without needing a fortune to get started. Let’s dive in.

What is the BRRRR Method and Why Does It Work?

If you’ve ever dreamed of investing in real estate but feel stuck because you don’t have a ton of cash, the BRRRR method might be the answer you’ve been looking for.

BRRRR stands for:

1. Buy – Purchase an undervalued property.
2. Rehab – Fix it up to increase its value.
3. Rent – Get a tenant in place for cash flow.
4. Refinance – Pull out your original investment.
5. Repeat – Use that same capital to do it again.

Keith Andrews , a real estate investor and agent in Colorado Springs, built his portfolio using this exact strategy. He didn’t start with unlimited funds or insider connections. Instead, he discovered BRRRR while still in his corporate job and used it to replace his income, escape the 9-to-5, and achieve financial freedom.

"The BRRRR strategy allowed me to recycle my money. I did it home after home, and in about four years, I had enough rental income to quit my job."

The Biggest Problem: Most People Think They Need a Fortune to Start Investing

One of the biggest misconceptions about real estate investing is that you need to save for years, stockpile cash, and buy properties outright. But with BRRRR, you don’t need millions—you just need to move smartly.

Instead of tying up your money in a single property, BRRRR lets you get your investment back by refinancing once the home is rented and stabilized. That means you can reinvest the same capital into multiple properties, rather than starting from scratch each time.

"I started with one property. Instead of selling it, I held onto it, refinanced it, got my money back, and used it to buy another one. Over time, I built enough passive income to replace my salary."

Why the BRRRR Method Works Even in Today’s Market

With rising interest rates and a competitive housing market, you might wonder if BRRRR still works. The answer? Absolutely—but you need to be conservative with your numbers.

Keith’s approach focuses on carefully selecting properties that will cash flow, even if refinancing conditions change. He avoids risky deals by:

? Buying properties where he can recoup at least 90% of his investment.

? Making sure rental income covers expenses—even at higher interest rates.

? Running the numbers conservatively, preparing for unexpected costs.

"I always make sure I can get at least 90% of my money out—even in a worst-case scenario."

How BRRRR Gives You Long-Term Wealth—Not Just Quick Cash

Flipping houses gets a lot of attention, but the problem with flipping is simple: once you sell, you’re done. No more income. No long-term appreciation. No wealth-building.

BRRRR is different. It helps you stack rental properties over time, increasing your monthly cash flow while also allowing the properties to grow in value. This strategy turns real estate investing into a wealth-building machine, rather than just a side hustle for quick cash.

"Flipping gets you chunks of cash. Cash flow gets you freedom."

That’s the key difference. With BRRRR, you’re not just working for money—you’re making your money work for you.

The Biggest Mistake I Ever Made (And Why It Became My Most Profitable Deal)

Most people hesitate to invest in real estate because they’re afraid of making a bad deal. And I get it—nobody wants to sink their savings into a money pit.

But here’s the truth: mistakes are inevitable. The key isn’t avoiding them altogether—it’s learning from them and knowing how to recover.

I learned this lesson the hard way when I bought a meth house.

Yes, A Meth House—And I Didn’t See It Coming

At the time, I was feeling confident. I had a solid strategy, had already done successful deals, and was ready to take on my next property. But I made one critical mistake: I didn’t factor in the full rehab costs.

When you buy a home that was used for meth production, you can’t just clean it up—you have to strip it down to the studs. And I hadn’t accounted for just how expensive that process would be.

"The rehab literally cost me double what I had projected."

I ended up depleting every penny I had to cover the extra costs, and when it came time to refinance, I couldn’t pull all my money back out. This was the opposite of how BRRRR was supposed to work, and for a moment, I thought I had made a career-ending mistake.

What Saved Me: Time and Smart Management

Here’s what I didn’t realize in that moment: in real estate, time is your biggest advantage.

Even though that deal nearly broke me at the time, fast forward a few years and that same house had:

? The most equity of any property in my portfolio

? Higher cash flow than all my other rentals

? Turned into one of my best long-term investments

What seemed like my worst deal ended up being my most profitable.

The Lesson? You Have to Play the Long Game

If you’re waiting for the “perfect” deal, you’ll never get started. There will always be risks. There will always be surprises. The best thing you can do is:

1. Do your homework upfront – Get thorough inspections, factor in unexpected costs, and have a conservative rehab budget.
2. Lean on trusted experts – I now bring in contractors before I buy, get multiple quotes, and let my wife and team review the numbers.
3. Think long-term – A deal that looks rough today can turn into your best investment with time and smart management.

"In the moment, I thought I had made a huge mistake. But looking back, it was just a bump in the road. Real estate rewards patience."

So if you’re hesitating to make your first move because you’re afraid of making a bad deal, here’s my advice: You will make mistakes. And that’s okay. The key is making sure they don’t take you out of the game.

How to Start Investing in Real Estate (Without Making Costly Mistakes)

If you’re new to real estate, you probably have a ton of questions—and maybe even a few doubts. You’re not alone. Most people spend years thinking about real estate investing but never take action because they’re worried about:

? Losing money on a bad deal

? Picking the wrong strategy

? Not having enough capital to start

? Making a mistake they can’t recover from

I get it. These concerns are real. But here’s the truth: you’ll never get anywhere if you don’t start. The key is knowing how to take smart, calculated risks instead of blindly jumping in.

"If you don’t get started, you’ll never get started."

So, where should you begin?

Start Small—But Start Smart

You don’t need to take on a massive rehab project right out of the gate. In fact, I’d recommend avoiding major fixer-uppers when you’re just getting started.

Instead, look for properties that only need light cosmetic rehab—things like:

? New flooring

? Fresh paint

? Minor kitchen and bathroom upgrades

These are much easier to handle, and they reduce the risk of running into unexpected costs.

"If you are going to go with the BRRRR strategy, go with a lighter cosmetic rehab—something where you know the bones are good."

Build Your Network Before You Need It

One of the biggest mistakes new investors make is waiting until they have a deal to start looking for help. Don’t do that. Start building relationships now with:

? Contractors – You’ll need reliable people for repairs and renovations.

? Lenders – Understand your financing options before you start shopping for properties.

? Other Investors – Learn from those who’ve already done what you’re trying to do.

These connections will make your life easier and help you avoid bad deals.

"You need to have a network—tradesmen, handymen, carpenters, electricians, plumbers. Have these people on deck because you’re going to need them."

Know Your Numbers (And Be Conservative)

A deal might look great on paper, but if the numbers don’t work, it’s not a deal. Before you buy, always make sure:

? You can rent it for more than your mortgage, taxes, and expenses

? You have enough cushion for unexpected repairs

? You’ll be able to refinance and pull most of your money out

I always run my numbers conservatively. If I can’t get at least 90% of my money back in a refinance, I won’t touch the deal.

"I always make sure I can get at least 90% of my money out—even in a worst-case scenario."

Ignore the Naysayers

Not everyone will understand your decision to invest in real estate. In fact, you’ll probably hear more reasons not to do it than to go for it.

Sometimes, these people mean well—family and friends want to protect you from risk. But if they’ve never invested in real estate themselves, they’re not the best source of advice.

"There are a lot of people that don’t invest in real estate, and they’ll try to talk you out of something that truly will change your life."

Surround yourself with people who are actually doing it. Learn from them. Ask them questions. And most importantly, take action.

Turning Real Estate Challenges into Opportunities

At some point, you have to stop researching and start doing. Yes, there’s risk involved—but that’s true with anything worthwhile.

Will you make mistakes? Of course. But if you take things step by step, stay conservative with your numbers, and build a strong network, you’ll be in a position to recover from any setbacks and keep moving forward.

So, the real question isn’t if you should invest in real estate—it’s when are you going to take that first step?

If you’re ready to take that first step toward financial freedom, don’t wait. Start small, focus on the right deals, and use the BRRRR method to scale your way to success.

And if you’re ready to get serious about real estate in Colorado Springs, or want a team that’s focused on long-term growth, reach out to me at AndrewsHomeTeam.com or give us a call at 719-337-4522. We’re here to help you get started, guide you through the process, and give you the tools you need to build wealth for years to come.

Take action now—because the sooner you start, the sooner you can build the life you’ve always wanted.

About Keith Andrews: Real Estate Investor, Agent, and Mentor

Keith Andrews is a real estate investor, agent, and host of The Real Estate Junkie Podcast, who transitioned from a high-paying tech career to build a successful property portfolio. After discovering the BRRRR method, Keith achieved financial freedom by focusing on buy-and-hold investments, solving the common problem of achieving consistent cash flow without relying on quick-flip profits. With over a decade of experience in real estate, Keith helps investors navigate the market with a unique, hands-on approach. His team at AndrewsHomeTeam.com specializes in investment properties and providing mentorship for new investors. Reach him at 719-337-4522.