first purchase- BRRRR error

[Dee Brock]

question: I am closing on my first BRRRR on may 12th and I underestimated the closing costs 4k( I figured 1500) and repairs about 3k off. I will be 6500k out of pocket after my refi, unless I get lucky and the AVR is higher than expected. Is there anyone out there who experienced the same issues or have any advice? is there any reason to be terrified. Is there others out there who have completely jacked up some of their BRRRR???

[Joseph Cacciapaglia]

That's the beauty of the BRRRR strategy. You "messed up" and still might only leave $6,500 in the deal... I bet that's a pretty small number relative to a standard down payment. It's not a failure if you don't pull out 100% of your investment. If you're happy with the return you make on that $6,500, then there is no reason to be worried.