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1st BRRRR - a good deal?
I am looking at investing in my first BRRRR. My question is on monthly cash flow. Here are the numbers:
Purchase - $70K
Rehab - $50K
ARV - $180K
Cash out refinance - will get 100% of my investment back or pocket up to $15K
Problem - I am estimating that my monthly cash flow will be about $100 a month. My other properties cash flow +$500 a month. I am worried about the low monthly cash flow, but understand this will grow over the years.
Is this a good deal? What are others doing about cash flow on BRRRRs
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With the current interest rate, getting 100% of your cash out is definitely a win in my opinion. Especially for a first BRRRR too. If you are really unhappy about the cash out, you can take less cash out, but I don't think it's a big issue if you are cash flowing $100 - you essentially get a free rental when you get 100% of your cash back (with equity built in)
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