All Forum Posts by: Ethan West

@Sterling West don't feel dumb, you are just realizing how hard it is to BRRRR! Your all in cost has to be 70-80% of the ARV (depending on property type and your lender) so you have to find a screaming deal or a value add deal to make it work (ie turning a large 2 bed into a 3 bedroom with the existing square footage). I've never done a BRRRR but finding a great deal is critical. It's like flipping a property with great margins that you keep for yourself instead of selling.

Ahhh! That makes a ton of sense! Are you involved in any BP meetups here? I actually live in West Hollywood 2 weeks out of the month now.

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Originally posted by @Brian G.:

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I don't understand the numbers here. Looking at a $180k property in desirable area of Texas.

Purchase Price: $180,000

Down (20%) $36,000

Closing costs $8,000

Rehab costs: $15K

Comps/ARV: $220,000

Refi Loan (80%): $176,000

So I am into this thing for approx. $59K (not including holding costs, etc...I have listened to a ton of podcasts and do not understand how to get 100% of your initial investment back in your pocket on any deal I run through the BRRR Calc. Am I missing something here...?

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I’m also looking for sfh Or multi in OKC. Under $275k each that cash flow.

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All Forum Posts by: Ethan West

Ethan West has started 6 posts and replied 14 times.

Post: I feel dumb. Please help me out lol

Post: I feel dumb. Please help me out lol

Post: I feel dumb. Please help me out lol

Post: Oklahoma City