Completed my first BRRR -- worked like a charm

[Kalimah Jenkins]

I purchased a townhouse in December 2015 and completed a BRRR on it yesterday. Well, I didn't actually rehab it, just found a good undervalued property and raised the rental to what is still below market (I didn't want to kill the tenants in the first year). Numbers looked like this: Purchased for $71k cash; raised rent to $1,000 from $830 in July 2016; minimal repairs; appraised for $110k; cash out refinance for $82k; payment $515 incl escrow; will raise rent to just below market to $1,150 at renewal. Atlanta, Marietta, Kennesaw, Georgia

[Kalimah Jenkins]

Brand Bank -- 4.5% 30 yr fixed.