BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated 5 months ago,
Rehab financing with partner(s)
Hello BP world!
I apologize if this may have already been asked/discussed, but here's the gist of it: I purchased a 3-unit property at an awesome price (under $50k), in a good area, that needs rehabbing! Estimated total cost of rehab is between 100k and 150k. And after rehab value will be at least $280k, and up, depending on options/features I plan to add (i.e., off-street parking, on-site laundry, garage, etc).
The ultimate plan is to BRRRR, and I'm able to secure verbal agreement from a couple of relatives and friends for financing. After rehab, I plan to refi and get all the $ out, pay everybody back (with some ROI), and hopefully have something left for me to do another deal.
So my question is, where can I find analysis tools or spreadsheets that I can use to work out the numbers and put together a formal/semi-official/convincing package to present to the prospective investors? Is there such a resource out there?
Thanks much!
Fred