Looking for feedback

[Deon Johnson]

Looking for feedback from experienced BRRRR investors on a potential first deal.

Property: Davis St, Masury, OH

Current numbers:

• Purchase Price: $20,000 (direct-to-owner)

• Public records show approximately 3 bed / 2 bath

• Attached garage

• New furnace

• New hot water tank

Known repairs:

• Water line replacement needed (~$5,000 estimate)

• Siding replacement/update

• General interior renovation

• Support beam repair (replacement beam already on site)

Estimated Rehab:

$30,000-$50,000

Projected Total Investment:

$55,000-$75,000

Current ARV Estimate:

$105,000-$120,000 (still verifying through comps and walkthrough)

Exit Strategy:

BRRRR

Potential Refinance:

75% LTV on a $110,000-$120,000 appraisal

What I'm trying to determine:

1. Would you underwrite this at a $110k+ ARV?

2. Is $30k enough for a rental-grade renovation or should I budget closer to $50k?

3. For a first-time investor, would you pursue hard money, private capital, or an equity partner?

4. What contingency percentage would you build into the rehab budget?

I'm doing a full walkthrough tomorrow and will verify room count, condition, utilities, and title status.

Appreciate any feedback from investors who have completed BRRRR projects in Ohio or similar Midwest markets.