A BRRRR Rental to Rehab in Kyle, TX

[David Ferrette]

Completed my second BRRRR a few months back. It wasn't quite as good as my first one but it is a step in the right direction:

Purchased: $185k

Rehab: $15k + $4500 in closing on the refi

ARV: $232k

Rent: $1550

Refi: Pulled the original $185k out 

Cash Flow: Breaking even

Since I refinanced within 2 months of purchase, I could only refi out my original purchase price.  I am all in close to $20k with about $47k in equity.  The home is only 7 years old in an area that is building new homes right around the corner.  Should be a good long term rental.