I just closed on my house in Dogtown a couple weeks ago, renovating the kitchen now but will be moving in soon.

. - thats fix and flipBRRRRbuying property for $400k, ARV $700K, will try to save in renovation but will still come out to about $140keach 3 bedroom apartment in area is going for $2,300/month (confirmed with rentometer and local listings) Taxes are $5,300/yearso what I did was $2,300/month each unit = $4,600/month75% of $700,000 = $524,250 at 4.25% = mortgage payment of $3,943.82/monthWhen you add water, tax, insurance, maintenance I am getting another $1,138.75/monthso in the end you negative cash flow ($482.57)I know the property is being bought at the right price, compared to location, but can that be possible where a property makes sense as fix and flip and not as BRRRR? 

It does seem like a great deal, but I am guessing the property needs some renovation as well and that is the reasoning for the lower price.

Hi guys, I just purchased my first investment property (Buy and Hold) and am about to start my renovation in about a week.

The property needs some love, and we're wondering if we should be doing renovation at the end of the year as a BRRRR update, or just let the cash flow roll in and not touch it until someone moves out?

There are many things that could be overlooked as part of the renovation on fire-damaged properties.If it does turn out to be a tear-down, remember to back the cost of demolition out of your max offer.

We want to buy a house for $350,000 and the renovations to get it to a good state are coming in around $300,000.

I would love to keep it for myself but don’t have the funds to renovate it.

Sits on almost an acre of landRoof: 15kGarage Door Repair/replacement :2.5kDrywall 5kFlooring: 5500HVAC: 8kBathroom reno 7.5kPaint 1kKitchen 7.5kCleaning out /Mis 2.5kCurb appeal- 1k5k contingency Comps from recently sold 155k 2 months ago not renovated smaller square footage I padded the renovation cost just to be safe and conservative rent in this area 1,200- 1400.

If a water pipe breaks and the place floods, you would have to move out while renovations take place.