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Updated about 3 years ago, 12/07/2021

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7
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6
Votes
Theo Georgelos
6
Votes |
7
Posts

Potential Brrr Opportunity - Need Analysis Help

Theo Georgelos
Posted

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!

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