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Updated almost 2 years ago,

Alex Rocha's profile image
Alex Rocha's profile image
Alex Rocha
  • Rental Property Investor
  • from Houston, TX
  • Member since Jan 12, 2020
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User Stats

9
Posts
1
Votes
Alex Rocha's profile image
Alex Rocha's profile image
Alex Rocha
  • Rental Property Investor
  • from Houston, TX
  • Member since Jan 12, 2020
Connect
Alex Rocha
  • Rental Property Investor
  • Houston, TX
1
Votes |
9
Posts
BRRRR - Buy, Rehab, Rent, Refinance, Repeat

Looking to do my first rehab

Alex Rocha
  • Rental Property Investor
  • Houston, TX
Posted

Looking to do my first rehab and got a quote. I'm estimating about $20-$25k in rehab costs for a property acquired at $95k for an ARV at $150k. Hard money lender is offering a 12% interest rate and a total loan amount of $104k (purchase + rehab). Loan origination costs and down payment is 3% in points, 1% of loan amount, 1 month payment, and down payment for a total of $32k to close. Thoughts?

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