Hi everyone,I performed a backdoor roth for the first time a few weeks ago (for 2019).

My clients are still able to exercise 3.5-5% down paying PMI and getting rates in the low 3%.

The loan is based on the performance of the property.

Currently living in the upper unit and performing kitchen and bathroom renovations.

Recently I’ve felt stuck trying to figure out what to do next after successfully performing three house hacks and having my personal mortgage and utilities covered from rental profits.

What if the appraisal comes in low, rehab comes in high, someone loses their day job during the rehab and can't contribute anymore, someone doesn't perform on your JV, the contractor bails on you, etc.

@Marco Bario I have been thinking that, if we wait about 3-4 months to see which performers are still actually performers, this could be a great way to go.

My question is how likely are they or their brokerage to exercise that clause?

Here's an example from an actual BRRRR I did (except for rounding a couple numbers to make everything easier for this exercise):REFI LAST:Purchase w/cash: $25,000Rehab: $30,000ARV: $100,000Loan (@ 65% LTV) = $65,000Closing Costs: $5000PITI: $550Rent: $995Equity: 35%Out of pocket: $0 (actually made $5K)REFI FIRST:Finance $25,000 (w/20% down): $5,000Closing Costs: $5,000*Rehab: $30,000ARV: $100,000PITI: $240Rent: $995Equity: 80%Out of pocket: $40,000*This is probably going to be lower due to a lower financed amount...but still, hopefully you get my point :)

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