Updated over 5 years ago on . Most recent reply
All costs associated with the BRRRR Strategy
i am a fairly new investor. I have 2 properties. The one I live in and another 2 flat which profits $900/month.
I want to accelerate my real estate investing with the BRRRR Strategy but I am having a hard time calculating all the costs. For example I wanted to use a private lender and they usually charge points. There are 2 closing costs. Inspections? Appraisals?
i understand the rehab cost and the cost to purchase the property but I am trying to account for all the costs associated with this strategy before making my first purchase. I am trying to make this first purchase as safe as possible.
Can anyone help me out with all the costs? Or which steps to take? Please message me any articles that explain this or the process I should follow. I would need it to be pretty detailed. Almost step by step.
I would purchase with private money and then refinance with a bank.
Thank you!
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Rental Property Investor
- Boulder, CO
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Rental Property Investor
- Boulder, CO
@Samuel Liapis What calculator are you using? The one here on BP or DealCheck.io are great for helping you plug in all the numbers so you don't miss something on the purchase or refi. I think the most often missed costs are the hold costs (make sure to include utilities, lawncare, snow removal etc) and cost overruns with the construction budget (at least 5-10%).