Successful BRRRR, unsuccessful refi

[Jon K.]

As the title implies, I am on the tail end of a BRRRR and the appraisal came in exactly where it needed to be to get almost all of my capital back out. It's a 3 bed, 1.5 bath semi-detached house. 124k purchase, 25k to rehab. It appraised for 200. I had an 80% LTV 30-year fixed loan locked in prior to all of the coronavirus craziness when the portfolio lender involved stopped funding at the 3 month seasoning mark. Disappointing but it'll be fine. I'm just excited that I'm getting better with my numbers. What makes it even better is that my refi estimate and expected ARV came in almost perfect when it was all said and done. I know they won't all be like this but despite not being able to close the loan I consider this one a success.