Last Leg of an 18-month BRRRR

[Wesley Thompson]

Going through the final R 18-months after purchasing my first property, a duplex in Chattanooga. There were a lot of issues that I won't go into in this post but here are the rough numbers.

PP: $110,000 - current mortgage balance $80,000 @ 4.125

Renovation: $40,000 (loan) - current balance $36,700 (payments made from cashflow)

My $ into the deal between purchase, holding, and other costs: $50,000 

Waiting on the appraisal but it should be between $190,000 - $210,000

Planning to cashout at $135k-ish at 6.5%. This will get me all my capital back between the cashout and profits from the last year. The rents will still cover the debt servicing and the renovation loan and still cashflow about $100-150/mo. I plan to use the capital to increase some cash reserves and look for the next opportunity!