Full Time Employee/ multiple BRRRR side hustle 28.75% to goal

[William Collins]

Here is my accountability update for my goals:  achieving $20,000 cash flow per month (10,000 for me, 10,000 for my cousin).  All of these are in Connecticut using @Michael Noto to help on acquisition.   We do use PM so we can focus on the projects. 

So far:

1) Triplex in New Britain- BRRRR complete and fully operational acquired spring 2015

                 2625 Rent Roll 100,000 acquisition 50,000 renovation, 140,000 refinance out 190,000 valuation

                 Cash flow total for this above everything else $600 or 3% of the goal.

2) Duplex in Manchester- BRRRR complete acquired fall 2015

                 2500 Rent Roll 60,000 acquisition 60,000 renovation, 140,000 refinanced out 190,000 valuation.

                 Cash flow above expenses $600 or 3% of the goal.

3) Duplex in New Britain- Auction.com buy at the refinance stage. Acquired Spring of 2016

                 2475 rent roll 75,000 acquisition 20,000 renovation, looking to refinanced out  120,000 for a 160,000 valuation

                 Cash flow above expenses of $500 or 2.75% of the goal.

4) Duplex in New Britain- bad foundation, MLS deal acquired summer of 2016

                2600 rent roll 85,000 acquisition 35,000 renovation, refinanced out 115,000 for a 220,000 valuation ( high)

                Cash flow above expenses of $600 or 3% of the goal.

5). Duplex in Manchester- acquired from wholesaler @Jerryll Noorden for $77000 summer of 2016

               2250 rent roll 77,000 acquisition 40,000 renovation, refinance out 126,000 for a 168,000 valuation

              Cash flow above expenses of $400 to 2% of the goal.

Mid rennovation:

6) Duplex in Manchester- acquired from MLS fall of 2016 estimated July completion

              2800 rent roll estimated 75,000 acquisition. 70,000 renovation valuation estimate $210,000 looking for 75% refi

              Cash flow above expenses of $800 or 4% of the goal

7) Duplex in Manchester- acquired from online auction in Winter of 2016 estimated July completion

              2800 rent roll estimated 83,000 acquisition.  70,000 renovation valuation estimate of $210,000 looking for 75% refi

              Cash flow above expenses of $800 or 4% of the goal

8) Triplex in Berlin- acquired from auction winter of 2016

             4200 rent roll estimated 125,000 acquisition. 85,000 renovation,  valuation estimate of $300,000 looking for 75% refi

             Cash Flow above expense of $1000 or 5% of goal

In acquisition:

9) Duplex in Bristol- acquiring from MLS end of May 2017

             2200 rent roll estimated 90,000 acquisition, 25,000 renovation, valuation estimate of $160,000 looking for 75% refit

             Cash flow above expense of $400 or 2% of the goal

We also have 1flip about to sell in June, and 1 flip buy to close in June.

[Brent Coombs]

@William Collins, I notice that sometimes you get to refi out MORE than your outlay. Kudos!

Given that you could've, you didn't for number 4 ie. (Only) $115k out on a $220k valuation?

But certainly, you're on the right track. Don't forget, every month that goes by will (slowly) increase the percentage of your goal achieved any way, purely because of the loan pay down effect! Cheers!