Updated about 3 years ago on . Most recent reply
Duplex BRRRR Strategy
Looking to get some feedback on me and my partners BRRRR Deal. Were under contract on a duplex for $160,000 and the estimated rehab is $135,000. Were using a Hard Money lender. Rehab Timeline is about 1-2 months. ARV is around 420k on the low end I believe. Each unit is 3 beds 1 bath and about 2800 total sq ft. We plan to rent each unit for $1800/m and then refinance down the line. Thoughts?
Most Popular Reply
If the property ends up appraising at $420k this would be a successful value add project (judging off of the purchase price and proposed rehab amount). I would be curious to see what your mortgage payment would be on the refinance compared to your rent - if it cash flows I would say go for it!