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Updated about 3 years ago, 12/07/2021
Potential Brrr Opportunity - Need Analysis Help
Hello BP Community. I'm may put it an offer into a SFH that needs work. Looking at the sales price and comps in the area, this might be an opportunity to Brrr it, yet I'm struggling to figure out the calculator to understand if it's the right deal. Here are some of the numbers and hoping all your experts out there can give this newbie some advice.
Property: Single Family Residence
Location: Aurora, Colorado
Neighborhood: Mission Viejo
Specs: 3 bed / 2 bath, 1,260 fin area, new appliances
Asking Price: $435,000
Rehab Cost: $35,000 (estimated)
Specs after Rehab: 3 bed / 3 bath, 2,002 fin area
Hopefully this gives y'all enough to work with. I'm pre-approved at 3.75% and plan to put 20% down on a 30 yr conventional loan. This will be my first deal and I already have contractors lined up if it all goes through. I've tried the Brrr calculator, but there are some things on there I don't understand. Thanks!