Do you all agree with that method?

Fix and Flip...Fix and Hold....BRRRR...etcHow were the costs of the repairs determinedDo you have the funds to start the project and make it to through the first draw (if the loan is setup that way)Things that make the lender feel better What is your net worthWill you be the general contractor or will you hire oneIf your credit score is low, do you have bankruptciesWhat is the expected time frame to finish the renovationsRemember in hard money lending we feel that each deal should be a win-win-win, so we want to do the deal to help you get started on your project and help our lenders make money.

We’re on the way to completing our first BRRRR.

Purchase price: $46,000 Cash invested: $17,619 Contributors: Bryant Tumbelekis This was my first BRRRR property in the Fayetteville Market.

He is nearly hitting the 1% rule on an $800k property just north of Columbia Heights by using a rent by the room method.

@Richard Oswald Google "Critical Path Method for Construction".

Extract your capital and do a 1031 exchange into a MFR that can generate better returns.Some notes about your analysis:Since you already own the property you'll be able to refi pretty quickly, but in a typical BRRRR you should expect at least a 6-month seasoning period before a lender will refi based on a new appraisal.You're missing the following expenses:CapEx, should be around 15% when combined w/ RepairsManagement (10%) always include this even if you plan to self-manage at firstVacancy (8%)These additional expenses make you cash flow negative, even at 60% LTV, which is why I recommend selling this property.

My goal is to live at the house for one year then rent it out and buy another property (BRRRR).

Is the BRRR a great , safe, idea or is there another method I can use?

And you need to seriously re-evaluate your method of determining ARV or repair estimates - whichever one seemed off.