Deal Deep Dive: SCOTTSDALE, AZ

[Kate Campos]

Hi!

I am a new investor looking to secure my first BRRRR.

I am under contract with a property in Scottsdale, AZ and I’m looking for feedback about my deal from seasoned investors, lenders/loan officers, & agents who are familiar with my market.

The deal is as follows:

4BD / 2BA

Purchase Price: $333,000

Rehab: $45,000

ARV: $500,000

OPM: $299,700

Potential Rent: $3,300

I've used every BRRRR calculator out there so I'm really just looking for experienced thoughts.

One of my doubts is this: A loan officer I spoke with told me that, should I get a cash out refi at 80% LTV, I'm going to be left with less than $10k cash after paying off OPM & Rehab financing. However, that's not what my numbers tell me. Am I doing something wrong? Also, would 80% LTV even be likely?

I appreciate any and all feedback regarding this deal!