BRRRR in Colorado still doable?
Cost to buy anything is Colorado is so high now that by the time you add rehab expenses and then have rent taper off on the other end BRRRR starts to no longer make financial sense. Maybe I'm just inexperienced or not creative enough to make it work...
Anyone in CO willing to share how you are making BRRRR happen for you?
Anyone is other states willing to share recommendations on areas where BRRRR works and is still attractive? The last story I heard was from Atlanta area; $50k purchase. $50k rehab. Appraises for $200k after renovations, Refis, and pulls $150k out with $25k still in the investment... plus ~$1500/mo. In rents. I would do this all day long if they existed in Colorado!!!
Any input/recommendations are welcomed and appreciated.
Thank you!