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226
Posts
97
Votes
Kalimah Jenkins
  • Investor
  • Marietta, GA
97
Votes |
226
Posts

Completed my first BRRR -- worked like a charm

Kalimah Jenkins
  • Investor
  • Marietta, GA
Posted
I purchased a townhouse in December 2015 and completed a BRRR on it yesterday. Well, I didn't actually rehab it, just found a good undervalued property and raised the rental to what is still below market (I didn't want to kill the tenants in the first year). Numbers looked like this: Purchased for $71k cash; raised rent to $1,000 from $830 in July 2016; minimal repairs; appraised for $110k; cash out refinance for $82k; payment $515 incl escrow; will raise rent to just below market to $1,150 at renewal. Atlanta, Marietta, Kennesaw, Georgia

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User Stats

139
Posts
98
Votes
Stacey Paulin
  • Investor
  • Atlanta, GA
98
Votes |
139
Posts
Stacey Paulin
  • Investor
  • Atlanta, GA
Replied

Has anyone been able to find any banks in GA that don't require a 6-12 month seasoning period?

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