Critique my first analysis - looking for feedback to improve

[Brian Seggebruch]

Hey everyone, not sure if this will work properly, but I just analyzed a deal with the BRRR calculator and I want everyone's feedback. I'm going with: no this isn't a good deal, but I'd love to hear what others think. Please look at my estimates and tell me what I did wrong and where I can improve. I used the list price as the purchase price because right now I'm using this as practice.

You should be able to find the report here.

Thanks in advance

-Brian

[Ralph R.]

Brian Seggebruch I'm originally from Estes Park and I know the market your working in there if this unit is in the Collins area. Tough at best. I can tell you this. Disregarding all financing flaws or anything else you will never come out ahead renting a $300,000 plus property for $2100 a month. Something like that is usually an appreciation strategy of some sort. The problem with this one is it needs to be purchased at a way lower price to begin with. If you plug it into the flipper's calculator you will see its a poor candidate as a flip as well. In order for the brrrr to work you need a good property for a flip to begin with. The other thing you should be sure of first is that you use no estimates in your analysis. Insurance taxes ARV pm etc should all be hard verified numbers. It's good to practice though. Next time look up actual taxes get a real insurance quote etc. When I was looking in that area I had better luck with Evans Colo over by Greeley. I bet that market is pretty hard right now as well though. RR