BRRRR in East Tacoma/ WA

Real Estate Deal Analysis & Advice
9yFollow

BRRRR in East Tacoma/ WA

Rudy Manna
Investor · Redmond, WA · Member since 2016 · 267 posts · 110 votes

This is a BRRRR we finished about a month ago along with partner @Pradeep Tiwari..

@Timothy Tooker doubled up as agent to find the deal and GC services..

--------

Overall, we generated quite decent walk-in equity ($36K, 18%), and cash flow rate of 0.95%..

We rehabbed mostly the interiors, we left exterior paint and windows, to make the numbers work.

Here are the numbers:

Purchase: $130K

Hard Money Cost: $8K

Construction Cost: $24K

Closing Costs: $4K

Total Acquisition Cost: $166K

ARV: $202K

Rent: $1570 (0.95%)

Walk in Equity: 36K

Before:

After

4Reply
122 views

Investor-friendly agents in Tacoma, WA

See the agents BiggerPockets members work with in Tacoma, WA.

Most Popular Reply

Peggy Kiker
Savannah, GA · Member since 2014 · 11 posts · 2 votes
9y

Hi Rudy, I noticed you used a hard money lender. How much did you bring to the deal yourself and were you able to quickly refinance with a bank? (I know usually they want a year or so of rental history), how were you able to refi and pay off the hml so quickly? What's your net cash flow per month now?

2Reply
See this reply in the discussion

32 Replies

Jump to latestLatest
  • Gilberto Rodriguez
    Real Estate Professional · Rio De Janeiro, Rio de Janeiro · Member since 2016 · 5 posts · 0 votes
    9y

    Great numbers, love the before and after pictures. Congratulations!

    0Reply
  • Pete Perez
    Engineer/Real Estate Investor · Renton, WA · Member since 2015 · 368 posts · 120 votes
    9y

    @Rudy Manna Good to see @Timothy Tooker doing good work for you are your partner again. Can't wait to get one under my belt. 

    0Reply
  • Timothy Tooker
    Real Estate Agent · Puyallup, WA · Member since 2012 · 240 posts · 95 votes
    9y

    @Pete Perez

    I am looking forward to you getting one under your belt

    0Reply
  • Aaron NelsonBusiness Member
    Real Estate Agent · Seattle, WA · Member since 2016 · 307 posts · 191 votes
    9y

    Great job! How big is the home? 2/1? Roughly 1000 sq ft?

    Always nice to hear about people having success locally. Are you planning to refi your money out completely in a year or so if rates don't jump too high and prices continue to appreciate at their current rate? 

    [email protected]425-880-2580
    White Coat Realty536 Reviews
    WebsiteView Page
    0Reply
  • Rudy Manna
    OP
    Investor · Redmond, WA · Member since 2016 · 267 posts · 110 votes
    9y
    Originally posted by @Aaron Nelson:

    Great job! How big is the home? 2/1? Roughly 1000 sq ft?

    Always nice to hear about people having success locally. Are you planning to refi your money out completely in a year or so if rates don't jump too high and prices continue to appreciate at their current rate? 

     That's an open question. But we don't like too much leverage, so probably won't go for cash out.. the house was 3/1 with 1400 sqft

    0Reply
  • Tasha McGlashan
    Vacaville, CA · Member since 2017 · 4 posts · 0 votes
    9y

    Congratulations, great job!

    0Reply
  • Luba T.
    Rental Property Investor · NY · Member since 2017 · 6 posts · 0 votes
    9y

    What you was doing to refinish kitchen and bathroom cabinets?

    What for counter tops?

    Look nice and modern!

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free