BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated over 1 year ago on . Most recent reply
Need Help Analyzing a Deal
Hi fam,
I need help analyzing this deal if someone doesn't mind sparing their time to help. Much appreciated. I used a bigger pocket BRRR Calculator but my cash to close is not the same as what the lender provided, which should be around $84000. I would also appreciate the advice on where I need to improve. Thanks
ACQUISITION:
Purchase Amount: $395000
Interest rate: 13% for 12 months interest only
Closing Cost (Settlement Charges) $29238 paid out of pocket
Annual tax: $5500
ARV: $630000
Rehab Cost: $120000 (100% finance)
Down Payment: %55000 paid out of pocket
Refinance After How Many Months:12 months
Rehab Time: 6 Months
REFINANCE:
Loan Amount: 75% of ARV= $472500
Interest Rate: 7%
Closing Cost: $20000
Term: 30 years
INCOME: Monthly
Rent: $5200
EXPENSE: Monthly
Fix expense:
Tax: $458.33
Sewer: 200
Variable expense:
Vacancy: $260 (5%)
Repair: $156
Cap Ex: $208.