First rental BRR(RR) before and afters
My first rental BRR(RR). All credit is due to what ive learned here, from you guys! I fixed up a distressed 3br 2ba last year, took out a HELOC and used 90% of it on the downpayment for this duplex, and the rest to help with renovation costs. One unit was already renovated, so I only had one apartment to fix up. This was a piece of cake in comparison to the single family.
Purchase Price: $242500
Rehab Costs: $6075
Estimated ARV: $290000-$295000
I plan to refinance, pay off a good chunk of the HELOC, and repeat in a few months.
COC: 12%
Cashflow (after all expenses, including HELOC payment): $492
I still have a lot of work to do, in terms of running a successful rental. But im excited for my future adventures.
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- Real Estate Broker
- Cody, WY
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Congratulations! It looks much better and you managed to keep the costs low. Now comes the hard part: managing tenants!
- Nathan Gesner
