BRRRR in East Tacoma/ WA

[Rudy Manna]

This is a BRRRR we finished about a month ago along with partner @Pradeep Tiwari..

@Timothy Tooker doubled up as agent to find the deal and GC services..

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Overall, we generated quite decent walk-in equity ($36K, 18%), and cash flow rate of 0.95%..

We rehabbed mostly the interiors, we left exterior paint and windows, to make the numbers work.

Here are the numbers:

Purchase: $130K

Hard Money Cost: $8K

Construction Cost: $24K

Closing Costs: $4K

Total Acquisition Cost: $166K

ARV: $202K

Rent: $1570 (0.95%)

Walk in Equity: 36K

Before:

After

[Peggy Kiker]

Hi Rudy, I noticed you used a hard money lender. How much did you bring to the deal yourself and were you able to quickly refinance with a bank? (I know usually they want a year or so of rental history), how were you able to refi and pay off the hml so quickly? What's your net cash flow per month now?