Hypothetical BRRRR: What am I missing?

[Jasper Franklin Heilig]

Let’s say I had $100,000 to invest.

B. I found a house for $60,000 and bought it for cash (what would closing cost be for a $60k house paid for with cash?)

R. I spend $30,000 in renovations.

R. I rent it out for $1,000 a month.

R. (How long would I have to wait to refinance?) The value after repairs is $125,000, 80% of that is $96,000 (how much would closing cost be for a $96,000 mortgage?)

[Chris Seveney]

Quote from @Jasper Franklin Heilig:

Let’s say I had $100,000 to invest.

B. I found a house for $60,000 and bought it for cash (what would closing cost be for a $60k house paid for with cash?)

R. I spend $30,000 in renovations.

R. I rent it out for $1,000 a month.

R. (How long would I have to wait to refinance?) The value after repairs is $125,000, 80% of that is $96,000 (how much would closing cost be for a $96,000 mortgage?)

 Paying cash for a property closing costs will be lower but it depends on state and location as you have recording costs etc. There are calculators online from title companies that can estimate closing costs.