First rental BRR(RR) before and afters

[Brian Ellis]

My first rental BRR(RR). All credit is due to what ive learned here, from you guys! I fixed up a distressed 3br 2ba last year, took out a HELOC and used 90% of it on the downpayment for this duplex, and the rest to help with renovation costs. One unit was already renovated, so I only had one apartment to fix up. This was a piece of cake in comparison to the single family.

Purchase Price: $242500

Rehab Costs: $6075

Estimated ARV: $290000-$295000

I plan to refinance, pay off a good chunk of the HELOC, and repeat in a few months.

COC: 12%

Cashflow (after all expenses, including HELOC payment): $492

I still have a lot of work to do, in terms of running a successful rental. But im excited for my future adventures.