BRRRR how to analyze a deal?

[Cameron Lim]

Hey guys, fairly new to the game and to BP, looking for advice and wanting to learn more on how to be a smart investor.

BRRRR- buy, rehab,rent, refinance, repeat....

Scenario:

Buy

How do I estimate what a property is worth before deciding to buy ?

rehab

How do I estimate how much money I need to put into the home to bring its value up? Do I go walk the property with a handyman/renovator/Ac guy before I even consider buying the property?

Rent

In my limited experience, the days to rent in my area is roughly 2 month. Do I try to rent it sooner with help from a realtor? Which means I aha r to pay her 1x rent?

Refinance

If I understand the BRRRR strategy correctly, we are looking to buy a property cash (without taking up a loan?) for example: if a home has a selling price of 100k but I estimate after putting in 30k I can increase its value to 180k. If I paid 130k in cash for it, and the bank appraised the home at 180k and allowed me to take out 80%, then I get 144k out of the home?

Or can I put down 20% of 100k (20k as a down payment) pump in 30k of improvements, and the bank still values the home at 180k and still let me pull out 144k? Not sure if this makes sense for the bank.

Help is appreciated.

Thank you