the hardest part of BRRRR

[Jason Malabute]

Last November, I did my first rehab deal (BRRRR). I got it for $40k I put $30k in rehab and we thought it would appraised for $80k based on surrounding properties. The appraisal came back at $56k. I tried to challenge the appraisal and it came back at $57k . I really questioned myself as an investor and entrepreneur during that time. I really thought I was going to take a loss . My friend told me to keep my head up and find a new banker. I found a new banker with even better terms and rates. To be honest, I was nervous, but the appraisal came back today at $85k. This means our ROI went from a 6% to a negative return all the way to a solid 9% (almost a 10%).Just because we didn't give up when it got tough. Entrepreneurship is a roller coaster ride. One day you feel like you're the best and the next day you feel like you're a fake. But no matter how you feel at the moment remember it's a long road so stick to the script . It's the journey that defines you (not the Ls or Ws)

[Whitney Hutten]

@Jason Malabute Nice work and persistence.  For those who get stuck in a similar situation, here is a guide to help navigate that tricky BRRRR refi.