Updated almost 6 years ago on . Most recent reply
Brrrr strategy thoughts
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!!
Most Popular Reply
Whitney Hutten
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Pro Member
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Rental Property Investor
- Boulder, CO
- 1,154
- Votes |
- 1,586
- Posts
Whitney Hutten
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Pro Member
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Rental Property Investor
- Boulder, CO
@Mitchell Morwood Your numbers don't work for a BRRRR on this. You won't have the cashflow. I personally wouldn't do it. What about a HELOC to tap into the equity to use on deals and then put it back when not in use?