All Forum Posts by: Jonathan Maio

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $140,000
Cash invested: $75,000

BRRR SFH in red hot Texas - not a perfect BRRR as we did not get all of our money back, but some serious lessons learned and still cash flowing. Practice makes perfect!

New loan - ~70-80% of the ARV (126k in your example - paying yourself back the 100k, plus 26k extra)

Closing costs (generally rolled into new loan) - lets say 4k for example (you should shop around to see best option)

Total loan amount that you are paying back monthly - 130k (plus insurance, property tax)

Dont forget about the seasoning period though! Most banks will make you make 6-12 months in order to do a cash out refinance. There are banks that will let you refi earlier than that, but there are more limitations to the total amount you can get (the amount of your original loan if you used a hard money lender, for example)

Hope that helps!