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Updated almost 8 years ago, 12/06/2016

User Stats

470
Posts
348
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Eric P.
  • New York City, NY
348
Votes |
470
Posts

BRRRR ("fix and rent") in Columbus area

Eric P.
  • New York City, NY
Posted

I'm curious if BRRRR ("fix & rent") works in the Columbus metro area. Essentially, the ability to have your purchase price + rehab costs <70% of the ARV, so after you rehab you can find tenants & then refinance to get all of your cash back. I'm sure there must be some areas / neighborhoods where this works? Of course, the other requirement is that the rental income is enough to cover your mortgage + expenses on the back-end. So this tends to work best in middle class neighborhoods.

Are there any licensed real estate brokers / agents who can help me find such properties? Not interested in Turnkey btw - I'd rather buy pre-renovation (not post-renovation) to capture the equity myself.

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