BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated almost 4 years ago,
First BRRRR completed!
In July I bought a house for $42000. By September I had $21000 into it for the rehab. In October I started to receive rent. And I just got the appraisal back and the property appraised for $82000 and I'm getting a 70% LTV loan which is about $57000. My return on investment will be about 90%.
42000
+
21000
=
63000
57000
/
63000
=
90%
Not bad for a first BRRRR.