What is the Best BRRR you have completed?

[Bobby Paquette]

Where do your BRRRs stack up? What is your best BRRR, what were the numbers, where was it?

[Alecia Loveless]

@Bobby Paquette I purchased a 3/1 for $99,000. It was only supposed to need about $15,000 renovation. Once we got into the renovation we discovered the inspector missed all sorts of things and the renovation cost about $50,000. Took a year to complete. Got a set of tenants in for $1600 + utilities.

The pandemic happened and prices went crazy here. The value of the 3/1 home went up to $349,000.

Had another property need an extensive renovation. Completed the BRRRR process on the 3/1 and took out $150,000 which was the maximum amount the rent would properly support. It still cash flows $250/month plus all bills and reserves.

Ended up not being able to find a contractor to complete the renovation to the other property which was a duplex only cash flowing $600/month in time for my insurance company to not drop my coverage and sold it.

Used the $150,000 to buy an 8 unit that cash flows $4000 /month currently.