Just closed a BRRR deal in Phoenix! Purchased for $280k, rehab cost $80k. Refi appraisal came in at $420k. After refi, I left $60k in the property, earning a 20% return. High-risk, high-reward strategy paid off. Phoenix market is booming, and I'm ahead of the curve. Current stats show a 10% YoY increase in home values. Looking forward to the next flip!
Congrats on the BRRRR deal, but let's dive into the numbers. What were your vacancy assumptions and how did you account for CAM reconciliation? Also, what's the tenant creit like? A 20% return is great, but I'd like to see the actual cash flow projections. Phoenix is indeed booming, but we need to consider potential risks. What's your plan for managing the property and handling potential issues?
Congrats on the BRRRR success. What were the initial and post-rehab expense ratios, and how did you arrive at the $420k refi appraisal? Were thee any significant rent bumps or was it mainly driven by apprecation?