Refi Rewards

Congrats on the BRRRR deal. Pro-forma rent bumps look aggressive, can you walk me through your thought process on that? What's the current rent and how did you arrive at the projected increases? Also, what's the expense ratio on this property and how's the loan sized relative to the cap rate?

I love the enthusiasm, but let's take a closer look at thsoe numbers. Assuming a $280k refi appraisal is one thing, but did you actually get that amount after the lender's appraisal and underwriting process? In the Lexington market, I've seen lenders come in 10-15% lower than the initial appraisal. That would put your actual refi amount at around $238k to $252k. How much capital did you actually pull out, and what were the loan terms? What was the interest rate and loan-to-value ratio? I'm also curious to know what your monthly cash flow looks like after debt service. Don't get me wrong, I'm a big fan of the BRRRR method, but it's crucal to be realistic about the numbers and not over-leverage yourself. Can you share more details about your financing and how you plan to manage the property's cash flow?