From David Greene at BiggerPockets.com on April 20, 2019:
BRRRR stands for: Buy, Rehab, Rent, Refinance, Repeat. It is a method of acquiring an asset, improving its value, stabilizing it, then pulling your money out on a loan. While most investors tend to take out a loan when buying a property, experienced ones know this isn't the most efficient way to do so. Consider this: if your crush asked for a picture of you, would you take the picture, send it, then put on your makeup and fix your hair? Of course not. You would want to look your very best before you presented yourself to the person you wanted to impress.