My latest BRRRR numbers
Hey guys,
Just had a successful BRRRR and would love your opinion/feedback on how we did. It’s important to note the properties are located in a B neighborhood in which property values are on an upward trajectory.
6 condos refinanced 75% LTV in two loans $300k @ 5% 5/20 and $34.5k @ 5% 5/10
All in costs for units and rehab $305k
Refinance amount $334.5k (yes we got out $30k more than we put in)
Gross annual rent $94,620
Annual Mortgage payments $28,308
Annual condo fees $13,680
Annual Property taxes $13,200
Annual Insurance $3,300
Annual Water/Sewer $7,056
Net is $29,076