Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago on . Most recent reply

User Stats

1,173
Posts
1,644
Votes
Brian Ellis
  • Rental Property Investor
  • South shore, MA
1,644
Votes |
1,173
Posts

First rental BRR(RR) before and afters

Brian Ellis
  • Rental Property Investor
  • South shore, MA
Posted

My first rental BRR(RR). All credit is due to what ive learned here, from you guys! I fixed up a distressed 3br 2ba last year, took out a HELOC and used 90% of it on the downpayment for this duplex, and the rest to help with renovation costs. One unit was already renovated, so I only had one apartment to fix up. This was a piece of cake in comparison to the single family.

Purchase Price: $242500

Rehab Costs: $6075

Estimated ARV: $290000-$295000

I plan to refinance, pay off a good chunk of the HELOC, and repeat in a few months.

COC: 12%

Cashflow (after all expenses, including HELOC payment): $492

I still have a lot of work to do, in terms of running a successful rental. But im excited for my future adventures.

Most Popular Reply

User Stats

28,237
Posts
41,427
Votes
Nathan Gesner
  • Real Estate Broker
  • Cody, WY
41,427
Votes |
28,237
Posts
Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied

Congratulations! It looks much better and you managed to keep the costs low. Now comes the hard part: managing tenants!

  • Nathan Gesner
business profile image
The DIY Landlord Book
4.7 stars
172 Reviews

Loading replies...