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BRRRR lost in translation
I am new to BRRRR, I have been flipping houses but want to supplement my income with positive monthly cashflow in rentals. Ok, this is where I get lost. My current example is: I have a flip house I am considering renting as it has not sold after several months. I have a total investment of 70k. However, if I refinance it getting 125k, paying 20% down on a 30 year mortgage that payment will be $570mo then there is taxes and insurance so am breaking even every month as I believe I will only get $750 mo rent. So yes, the refinance brings money for more investing, but not finding the monthly cashflow part of this. Can anyone help to explain what I am missing? Thank you