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Updated almost 7 years ago on . Most recent reply

Account Closed
72
Votes |
162
Posts

BRRRR or Build Garage w/ Apartment?

Account Closed
Posted

I have finally started. Did loan app today for a cash out refi (~30K). But I don't know what would be a better option with the money.

Option 1: Build a Garage with a 2BR apartment on my primary residence property. Similar to this: 

https://www.behmdesign.com/product/apartment-garag...

Rent it for $450-$550/month, cashflow $200-$300

OR

Option 2: BRRR a 30K house

It seems it might be smarter to do a BRRR just because I imagine it would be easier to pull the money back out this way to do it again.

Any thoughts?

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