BRRRR Help For New Investor
Hi Everyone, I need some advice. I have this property I'm all in for at 235,000. I BRRRR this property. My ARV originally was 320k. However, due to bedroom count and the market the ARV dropped to 280k. I was able to refi and pull my money out. However, I am now 25k in the whole. This property has the chance to produce over a 10% ROI if both units were filled. However, only 1 is filled at the moment by choice. I am debating on selling. I am a new investor. Looking to build residuals. However, the cash flow would be outstanding if I kept this property. Netting around 1050 a month. What would you do as a new investor?
Most Popular Reply
You’re focusing on the $25K loss, but that money’s already gone. Selling just locks it in. The real question is what the deal looks like today. If it can net ~$1,050/month once both units are filled, you don’t even have a stabilized property yet. You’re making a decision off half performance.
As a new investor, I wouldn’t sell here. I’d lease the second unit, stabilize it for a few months, then reassess. Right now you’re judging the deal before it’s finished.