BRRRR Success

Congrats on the BRRRR deal, but let's break down the numbers. What were your vacancy assumptions and how did you account for potential CAM reconciliation issues? Also, can you share more about the creditworthiness of your tenans? With a $480k refi appraisal, you're likely expecting sginificant rental income. What are your projected annual expenses, including property management and maintenance? A 15% annual return sounds aggressive, even with a 10% increase in home values. I'd love to see a more detailed cash flow analysis to understand how you're planning to achieve that returrn.

I'm glad to hear about your BRRRR success in Phoenix, but I do have some reservations regarding the appraisal assumption. While a 10% increase in home values over the past year is certainly promising, I'd like to know more about the specifics of the refi appraisal that came in at $480k. What were the comparables used, and how did they justify the $160k increase in value? Furthermore, I'm curious about the actual cash-out refinance process - how much of the $130k pulled out was usable cash, considering closing costs and other expenses? In Lexington, we've seen similar market trends, but the devil's often in the details. I'd love to see a more detailed breakdown of the numbers to better understand the true return on investment. A 15% annual return sounds attractive, but we need to ensure we're not overestimating the potential of this property.

Congrats on the BRRRR success in Phoenix. I'd love to dive deeper into the numbers. How did you arrive at the 15% annual return projection? Was it based on projected rent growth or appreciation? Additionally, what were the key factors that led you to choose the Phoenix market for this strategy? Were there any specific indicators or trends that gave you confidence in the 10% increase in home values over the past year? I'm also curious about the refi terms - what was the interest rate and loan term on the $130k cash-out refi? Finally, what's the plan for the $70k in remaining capital - will you be holding it for future renovations or exploring othre investment opportunities?