Updated over 4 years ago on . Most recent reply
First BRRRR completed!
In July I bought a house for $42000. By September I had $21000 into it for the rehab. In October I started to receive rent. And I just got the appraisal back and the property appraised for $82000 and I'm getting a 70% LTV loan which is about $57000. My return on investment will be about 90%.
42000
+
21000
=
63000
57000
/
63000
=
90%
Not bad for a first BRRRR.
Most Popular Reply
@Sean Julian Your ROI is based on NOI-expenses/total investment.
It's not based on what ever math you calculated here. Hopefully the property rents for an amount equal to 1% of the purchase price. $42K is really low so I'm sure you hit that mark easy. Cheers.