Brrrr strategy thoughts

[Mitchell Morwood]

So I’m struggling with how much my mortgage payment will be after I refinance. If I buy a house for 150 and can rehab it to make it worth 250, that’s a giant mortgage payment. Even if I’m getting 1500 a month for rent. Not much monthly cash flow. Yeah I made 60-70k but it seems too risky.

So my main question is: will this strategy only work if you can get a house for dirt cheap? What have overs done? Thanks!!