Updated 8 days ago on . Most recent reply
Help me analyze this deal
Hello BP community,
I have about 5 rental properties and do a mix of LTR/MTR. I have been interested in doing a BRRR so this would be my first time doing so. I'd be using a bridge loan to fund this project and it will cost me about 70K out of pocket (this includes 15% DP, CC, and bridge loan monthly repayments x 4). At the end of this project, I will have two turnkey 3BR/2Ba houses on one parcel of land. Ideally would like to sell as 2 condos for maximum profit, but if town won't permit that, am willing to refinance and rent out with anticipated combined monthly rent of $4800. Since I'm new to BRRR, I always thought the goal was to get 100% of your money back. But in this scenario, ARV is only 10K more than bridge loan amount. Appreciate your insights.
*This link comes directly from our calculators, based on information input by the member who posted.