BRRRR in New Braunfels, TX
This is my 4th property but the first I did with the BRRRR method. I didn't get ALL of my money back out of it but I still think it was a success.
Foreclosure Purchase Price: $137,500 cash
Rehab: $19,000
Bank appraisal after rehab: $187,000
Bank Loan: $140,200
Rent: $1550/month
When you factor in the cost to get the loan (which I didn't pay much attention to when putting my original numbers together, big mistake) I am all in for about $21,000. There is now about $47,000 in equity and it cash flows over $200 a month after all expenses.
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That's still good. I had similar numbers on one of my rentals in San Antonio. In the process of cashing it out now. :)
Good luck! NB rocks!