We will be doing paint and floors as well as a few very minor repairs

I’ll add some details to the mountain houses which will shed some light.The houses are aging and I’m doing a lot of wood, siding and deck component repairs plus they need staining quite often.

We don’t really need the $400/mo cash flow and so have been saving that just in case the house needs a major repair.

To determine rehab costs, calculate the After Repair Value (ARV), total rehab costs, purchase price, and other expenses.

Sometimes properties that exceed the 1% rule can come with risks, like higher tenant turnover or hidden repair costs.

Hi Josh, here are some common mistakes investors make when doing a BRRRR:Overestimating the After-Repair Value (ARV):Investors sometimes overestimate the future value of a property after renovation.

Then I realized that the rent was about $700 below market rent and my expenses were getting out of control (taxes, insurance, mortgage, repairs) so for the past 8 years I was slowly increasing the rent every year.  

And even then… i have seen home owners get less bc they lack stamina, negotiation skills, they lose money when negotiating for repairs… or they don’t know how to quantify a repair.

What repairs/improvements do you NEED to do, versus THINK? 

Hi @Tyler TomasAn appraiser can do a Subject To appraisal where they give you the AIV (As Is Value) and the ARV (After Repair Value).