Updated almost 3 years ago on . Most recent reply
First time investor calculating ROI
Forewarning I may be over complicating things.
At this point I'm simply theorizing, I have yet to see the property in question. I had someone reach out to me to see if I was interested in buying a property delinquent on taxes.
I would be leveraging around $100k in a HELOC to buy my first BRRRR.
Theroy:
Buy the house at $50k
Invest $40-45k on the rehab
Rent the house for $1200/month
70% LTV would be $84,000 if the property can appraise for $120,000
Left in the deal $6000
I tried to use a ROI calculator and also tried to do it by hand but I'm missing something.
What would be the ROI for this property?
Feel free to comment or DM me