Updated over 6 years ago on . Most recent reply
[Calc Review] Brrrr Triplex Is this right?
*This link comes directly from our calculators, based on information input by the member who posted.
Did I do a Brrrr right?
Purchase property at 250K, add 30K in repairs. Estimated ARV is 320K. With the calculator when I go to refinance what would I input as my "new" loan amount be? If I'm trying to do the 65-70% cash out. Am I getting the new loan for all $320K or a lower amount as there would now be equity in the home? at 320 it still cashflows but just a little bit.
It's this one piece that is confusing me, but once I get it I think we are ready to move on our first property.
Thanks!