Rate my BRRR Calculator

[Chirag Shah]

Hey everyone, 

I was hoping to get some feedback on my BRRR calculator. I like to build my own so I understand variables and concepts better. I'm hoping to pursue this strategy this year and moving forward as traditional 20% is definitely difficult.

I broke the calc down into two parts:

Buy/rehab : includes ARV calculation, and HML finance fees.

Rent/refinance: include my cash flow criteria and common rental analysis figures. 

My concerns are:

1. Is my HML financing off when calculating MAO? How do we integrate third-party financing of a rehab deal? I might be completely off here as I have been a buy and hold through the expensive, traditional path for the past year.

Here is the link to the calculator.

Thanks!

[Andrew W.]

Thanks for sharing! 

I haven't done a refi, but have a few rentals.

1. When you refinance, shouldn't you be borrowing about $210k, not the full $300k? I see that you calculated your mortgage payment based on a loan balance of 300k. 

2. Are you assuming this is in Texas? If so, taxes seem too low at 1.3% of ARV. Should be more like 2.3%

3. Are closing costs for a Refi really 3.5%? That seems really high to me.