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Updated over 8 years ago on . Most recent reply

User Stats

649
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52
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Steve S.
  • Dallas, TX
52
Votes |
649
Posts

When doing a BRRRR, what could I expect to pay in closing costs?

Steve S.
  • Dallas, TX
Posted

for a ARV property of about $150,000 (if loan was 70% it would be for $105,000)

I paid $6,000 in closing and put down $25,000 on a $100,000 loan when I purchased.

Most Popular Reply

User Stats

649
Posts
52
Votes
Steve S.
  • Dallas, TX
52
Votes |
649
Posts
Steve S.
  • Dallas, TX
Replied
Originally posted by @William Mccurdy:

You forgot COMPOUND INTEREST. It would turn that 6k into almost 10k in 16 years. Either pay up now or pay more later. That's why it's best to get seller credit for closing.

There is no seller credit if I'm BRRRR'ing since there is no seller. Just a refi

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