Math behind zero money down BRRRR?

[Roy Gottesdiener]

I realize the strategy is to get as loans (private + hard money) your all in costs, then refi, pay them back and enjoy the cash flow.

Can someone give example numbers? Also, it makes sense only if you can get the refi of ARV equal or higher than what you borrowed otherwise you'd have to put your own money right?

As a foreign investor, if I can get only 65% LTV that makes this strategy irrelevant for me as I'd have to look for houses with Hugh upside on ARV