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Updated over 8 years ago on . Most recent reply
New BRRRR Deal evaluating
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....