BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated 6 months ago,
First Time Investor in Need of Advice
Hello all investors I'm 24 and I'm looking into buying my first investment property for my portfolio. This one is going to be a BRRRR deal for me.
Property Asking $680k
2 bed 1 Bath 738 sqft
Lot size 6k sq ft.
In need of a full rehab so not sure how much that would cost I’m thinking $70k?
Also want to add an ADU to get extra cash flow but not sure how much a fully permitted ADU adds value to the property when refinanced.
Need help with figuring out how to estimate rehab costs and how to figure out what’s the best price to buy at. It’s hard because all I want is cash flow even if it’s $500 and hold for the appreciation.
Feel free to brainstorm with me down below please and thank you!!