****Experienced investors....**** Is this a good strategy?

[Chris B.]

Hi all,

Excited... This is my first BP post. :) I am under contract on 2nd BRRRR home. Closing June 16th.

Purchase price 60000

Rehab costs estimate 30000

Taxes 6000 per year

Insurance 600 year

Rent for 1200 a month.

Paying for it with cash with HELOC. Plan to refinance after 6 months.

Did similar with my first investment house. Getting 1000 a month and all in at 80k (taxes $4400).

Am not seeing a lot of money coming back, but am hopeful this will pay off in the long run? Is this a good strategy? Thanks for any positive feedback/ constructive criticism...

Adv"thanks"ance

Chris