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Updated about 8 years ago on . Most recent reply

User Stats

28
Posts
10
Votes
John Korn
  • Rental Property Investor
  • Pittsburgh, PA
10
Votes |
28
Posts

New BRRRR Deal evaluating

John Korn
  • Rental Property Investor
  • Pittsburgh, PA
Posted

Here's what i'm looking at and wanting to get some input on BRRRR Deal.

Purchase price: $27K

Rehab:  $30K

ARV: $90k

6mo Cash-out-refi: $50k mort 

Rent: $950 mo

PITI after Cash-out = $442.88

CapEx/Repair/Vacancy = $142 mo (15%)

Net = $366

What do you think?  This is a new breakdown I could repeat in a different area of town than i normally work in.  

Would you take the full 70% LTV on cash-out-refi? it would provide additional $13k in cash but would increase mortgage by roughly $60 a month....

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