Always budget extra for surprises.Skipping Permits – Even small renovations may require permits.

@Ko Kashiwagi My understanding is that one can still execute the BRRRR strategy and successfully cash out, but due to high interest rates, the rent may not cover the mortgage.

Purchase price: $107,000 Cash invested: $80,000 Sale price: $280,000 Sourced an off market fix & flip deal in the western suburbs of Atlanta near an area where I knew an Amazon facility was being constructed and buyer demand would pick up.

Zero evictions and zero cash for keys.  

Purchase price: $149,500 Cash invested: $10,000 Duplex (3BR/2BTH and 2BR/1BTH) separate 1BR/1BTH ADU

You could do a cash out refinance or even look at a balance transfer at 0% for a couple of years.

Purchase price: $282,000 Cash invested: $120,000 STR buy and hold with renovation for value add.

Purchase price: $360,000 Cash invested: $75,000 3b2b made into a 4b2b.

Even if you get a great deal that is 20% below market, appraisers will typically be anchored by the last sale price and you may be stuck not being able to pull out as much cash as you need to pay off the HELOC.

Purchase price: $55,000 Cash invested: $440,000 Currently under construction and pre-leased for $6,195/month, this 7-bedroom, 5-bathroom student rental in Clemson, SC, was built using investor cash and designed for high-end student living.