Updated about 4 years ago on . Most recent reply
Henry I : The BRRRR with so many R's
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Grand Rapids.
Sale price: $163,500
"Henry I" - 3 Unit, Grand Rapids, MI
Brrr#1, July, 2015
Purchase price and type: $163,500, 3.5% down
Loan Product: 3.5% down, FHA Loan ($5,800)
Monthly PITI: About $1100/mo
Rehab: 45-55k
Rehab length: 2-3 years
Rent: $1050/month (beginning total for 2 occupied units)
2018 Refi: streamline FHA cash out, or something like that.
Rents:~1700
Appraisal: $230,000
Cash: ~$33,000
Loan amount: ~190k
Money in deal: 15-20k
Hard to quantify benefits: + 3 years of li