BRRRR SFR in Indiana

[Caleb Drake]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $30,000
Cash invested: $39,000

This deal is one that we recently took down as a BRRRR. I bought the property on the MLS and used private money for both the purchase and the rehab. The rehab went over budget, but the refinance is allowing us to only leave 10% in the property. This is standard right now with all the local banks in the area due to the fed tightening.

Numbers:
PP- $30k
Closing cost: $372
Cost of money: ~$900
ARV: ~$80-85k
Refinance: $60k
Equity:$20k+