A BRRRR Rental to Rehab in Kyle, TX
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.