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Updated almost 5 years ago,
BRRRR a small single family home
Hello all, I bought a small 680sqft single family house for 32k, put 8k down so I financed 24k. I plan to put about 5-6k into new floors paint and countertops in kitchen and then rent it out. The appraisal when I bought the house was 34k, I'm wondering how much my appraisal value will go up when I put that 5-6k into it. Should I BRRRR? I'm also a little confused about the BRRRR strategy, if I refinance after I do my upgrades are my payments going to increase? Will refinancing give me cash to put towards another down payment on another house?
Thanks for the help.