Surprise In Surprise

I just closed a BRRRR deal in a suburb of Phoenix, with a purchase price of $320k and rehab cost of $80k. But the surprise came when a hidden foundation issue added $20k to the rehab bill - a high-risk, high-reward move that still yielded a refi appraisal of $480k. After refinancing, I was able to pull out $100k in cash, leaving $60k in capital. This deal was a great example of being ahead of the curve, as the latest market statistics show a 10% increase in home values in this area over the past quarter. The numbers worked out, with a 25% ROI, proving that even with unexpected expenses, a solid strategy and a bit of grit can lead to significant returns in the desert southwest's thriving real estate market.