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Updated over 5 years ago,
CAN'T SEEM TO FIND THIS ANSWER ABOUT BRRRR RENTING! PLEASE help!
I really appreciate you taking a minute to read this and if you can help that would be amazing ! Like I said I'm new to investing in real estate within the last couple years and I just ran across this BRRRR idea and I think I'm in love.
I'm halfway through the book which I very much find valuable and I definitely understand 99% of it, or so I think I do at least , but the rent part is leaving me a bit confused.
It's possible that I have missed this explanation or potentially didn't make it to this part yet but how much do I rent the said house for? Is there a certain percentage that I need to shoot for in order for it to be a successful BRRRR?
I've heard Brandon and David talk about 12% Roi when renting but does that same number need to be achieved when brrrring? Obviously it would be wonderful if I could get 12% after financing the property and getting my money back but I'm just looking for some info here.
I have a couple houses I just picked up cash for what I would consider a price that would make for a successful flip, No Doubt, but when I run the numbers with renting there's not a whole lot of money to be cash flowed each month after pulling out even 75% of the value.