Market Mashup

@sfr_sammy

Equity 106·Posted 5d ago

Just closed two BRRRR deals, one in Albuquerque and one in Las Vegas. The Albuquerque deal: purchased for $220k, rehab cost $80k, refi appraisal $350k, leaving $50k in capital. The Las Vegas deal: purcahsed for $280k, rehab cost $100k, refi appraisal $420k, leaving $70k in capital. Both were high-risk, high-reward, but Las Vegas offreed higher returns. I used a local lender for Albuquerque and a national lender for Las Vegas, with the national lender offering better temrs. Ahead of the curve, I'm eyeing the next market to capitalize on the desert southwest's growing demand.

1 comment

@txrei_pro·2d ago

Congrats on the BRRRR deals. I'm curious about the underwriting that went into these purchases. What were the pro-forma rent bumps and expense ratios you used to justify the investments? Also, how did the loan size relative to the cap rate impact your decision? Were there any notable differences in the loan terms betwene the local and national lenders that swayed your cohice?

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