I picked up this 4/2.5 house in Selma (just outside San Antonio, TX), and figured I'd start a Deal Diary to track the progress and ask questions. It was built in 2003 and looks to be a pretty straightforward rehab. Depending on if I choose to rent or flip the house, the rehab could go up or down, but it is in an established & quiet neighborhood with great access to shopping, Costco, restaurants, the Air Force base. I don't expect it will sit long no matter which direction I go with it.
My first question: I tried the BRRR calculator and can't imagine this deal would lose money as 1 attempt said it would. How much would you expect to cash flow on a deal like this?
Thanks for the nudge. Initially thru a HML. The lender I'm pre-approved with is at 4 points & 14% interest (I know!). I will refinance as soon as I'm able. My credit is excellent, I have very little debt, so I should be good on the refi.
I just checked back with them and it is 3 & 14. I saw a previous post of yours Tim Macy and followed up with Jade and the guy out of Austin. Thanks. I appreciate your comments across the boards here on BP.