All Forum Posts by: Amanda Broadfoot

Thank you all so much for generously sharing your knowledge with me! So grateful for BP!

Hi Steven,

Thank you - Already in and have to make the most of it. 

Hi Kurt, 1050-1100 probably 

Well this is very likely going to be my minimal-profit-with-a lot-of-educational-experience but I do need a little help with wrapping my head around doing this as a Flip and get a little cash for the next deal or doing BRRRR to finance future deals.

purchase price 85,000 (used family cash and need to pay back)

cash to fix up 25,000 (hoping for 21,000 but padding here) (use my cash)

ARV 135,000

after closing and realty fees I would probably come out with about 10,500  pre tax - 5,775 post tax (like I said minimal profit)

BRRRR

135,000

108,000 refi and pull out 80%

-85,000 payback family loan

left with 23,000

the house would probably cash flow $150-200 if I did a 30yr note

this newbie appreciates any help y'all can provide!