First BRRR; Final numbers

[Daisy Ferreiras]

Hi all,

Wanted to share my first deal. I did the BRRR method

Purchase Price: $92,000

Rehab: $35,000

ARV/final appraisal: $175,000

Doing a cash out refinance and was able to get 75% of the ARV. Since I only needed the house to appraise for around $169,000, I was able to pull all of my cash out that I originally invested and pocket some extra $$. 

**Double bonus - the house is in an opportunity zone so we plan on keeping it for at least 10 years so we can get the tax benefits when we sale.

[Preston Quinn]

@Jaron Walling

If you’re using commercial financing there is no seasoning period. At least with the bank I work with there isn’t.