Triplex BRRRR Finally Closed - $105k Equity

[Patrick McGrath]

So we bought a Triplex back in Nov. for $204k and have been working through the BRRRR process for the last 9 months and we finally closed on the Cash-out Refi. We are beyond excited how this deal went and will be closing on a 4-plex from the same seller in August.

3 (2) Br (1) Bath units with a 4 Car Garage

Purchase: $204k - $4k seller closing help listed at $239k

Closing cost and Down payment = $61k

Renovation cost : $15k

Rents at Purchase : $750 - $750 - $650

Current Rents: $1375 -$1200 - $925

All in cost of $76k

AVR: $350k

Cash-out Refinance at 70% LT after closing cost = $87k 

100% of investment returned with an extra $11k. 

PITI: $1550 with total gross rents of $3500 for net cash flow of $1950 before expense and $105k still left in the deal.

[Felipe Stefanoni]

sweet deal @Patrick McGrath congratz!