BRRRR Blip

@sfr_sammy

Equity 106·Posted 2d ago

Just closed a BRRRR deal with an unexpected twist! Purchase price was $320k, rehab cost $80k, but a surprise $15k roof replacemeent threw us off. Refi appraisal came in at $480k, and we were able to pull out $140k in cash. High-risk, high-reward play paid off, with $105k in capital left in. Ahead of the curve in the desert southwest market, we're already eyeing the next opportunity. Latest market stats show a 10% increase in home vallues, and we're poised to capitalie on this trend. With the right strategy, the potential for high returns is vast – and we're just getting started!

1 comment

@txrei_pro·1d ago

Impressive outcome on the BRRRR deal, considering the unexpected roof replacement cost. The refi appraisal at $480k is a significant bump from the initial purchase price of $320k. I'd love to dig deeper into the numbers. What were the original pro-forma expense ratios and rent bumps you underwrote, and how did they compare to actuals? Additionally, can you share the loan trems and how the debt service fits into the overall cash flow? With a $140k cash-out refi, what's the new loan-to-value ratio, and how does that impact your overall return on investment?

Vote, comment, and save deal-anchored discussions.