BRRRR in New Braunfels, TX

10 Replies

This is my 4th property but the first I did with the BRRRR method. I didn't get ALL of my money back out of it but I still think it was a success.

Foreclosure Purchase Price: $137,500 cash

Rehab: $19,000

Bank appraisal after rehab: $187,000

Bank Loan: $140,200

Rent: $1550/month

When you factor in the cost to get the loan (which I didn't pay much attention to when putting my original numbers together, big mistake) I am all in for about $21,000.  There is now about $47,000 in equity and it cash flows over $200 a month after all expenses.  

What is the BRRRR method?

That's still good. I had similar numbers on one of my rentals in San Antonio. In the process of cashing it out now. :)

Good luck! NB rocks!

Well Done David!

Also looking to BRRRR in New Braunfels and surrounding area. Connect with me anyone that would like to chase deals together or JV.

Originally posted by @Clifton Kaderli :

Also looking to BRRRR in New Braunfels and surrounding area. Connect with me anyone that would like to chase deals together or JV.

I might be interested. I live five hours from the but have built some commercial and rehabbed some condos there for the last three years. I know some really dependable subs there.  

I am in New Braunfels.  I come across deals frequently. I am currently buying and holding as well as flipping.  I am closing on houses once a month but would like to step it up in 2017.  I have two under contract in San Antonio.  I am a little nervous about the big city but it is time to spread my wings.

@Nicholas Miller

What is your best source for leads/deals in the New Braunfels area?  Finding the deal is always the most difficult part of the process for me.

For me, deals in New Braunfels can be difficult, especially for flipping. I have a network of other investors and a motivated wholeseller. With that being said, I still do my own farming and driving for dollars. I have found the surrounding area to be lucrative.

@Michael Evans BUY/REHAB/RENT/REFINANCE/REPEAT. A method used so you can pull you money out about a yr after buying so you can use it to purchase more properties.

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