- Rental Property Investor
- Mount Juliet, TN
- Votes |
Found a BRRRR. Help needed.
Hello all ill try to make this short and too the point.
single family home 2br 1ba no room for change in floor plan and small house in good area
All numbers below are conservative.
Offer price 70k
Rehab cost 30k
Monthly Rental income 800.
Cap ex 2000/yr
Property tax 400/yr
closing cost 2000
vacancy rate 5 percent
management fee 10 percent
My wife and i are currently house hacking. Converted SFH into a duplex. We have been looking to expand our portfolio and put a 5 percent down on the property listed above with conventional loan and live there. After repairs (1yr) leave and rent the house then refi. I put these numbers in the bigger pockets BRRRR calc and am a little confrazled. Yes that is a word.
If im reading this calculator right it may be best to walk away offer lower price or use this for a fix and flip.
Any thoughts would be appreciated,