Analyze your BRRRR deal: total investment, cash-out refinance proceeds, money left in deal, and cash-on-cash return.
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Typically 70–75% for rentals
Tax, insurance, mgmt, maintenance
The Chen family is buying a $340,000 home in Columbus, Ohio. Combined income $115,000, 10% down payment, 30-year fixed at 7.125%.
Takeaway: Columbus/Franklin County averages are the reference baseline. Property tax rates and insurance premiums shift significantly by ZIP code and HOA status. Plug your actual numbers in above.
We default to state-average millage rates. County and municipal rates vary 40%+ within a single state. Ohio ranges from 0.8% (rural counties) to 2.4% (Cuyahoga/Cleveland area). Always cross-check your specific county assessor's published effective rate.
Property Tax by StateHomeowner association fees add $100-$800/month in condos and planned communities. Condos in urban markets often run $400-$700/month. If your property has HOA, add it manually to any payment estimate — it directly affects your debt-to-income ratio for loan qualification.
HOA Fee CalculatorClosing costs typically run 2-5% of the loan amount — around $6,000-$15,000 on a $300K home. Lender fees, title insurance, escrow, and prepaid taxes add up fast. These are due at closing in cash, not rolled into the mortgage by default.
Closing Costs CalculatorPrivate mortgage insurance (PMI) costs 0.5-1.5% of the loan annually until you reach 20% equity. On a $300K loan at 1%, that's $250/month. PMI cancels automatically at 78% LTV under federal law — but you can request removal at 80%.
National home price appreciation has averaged ~4% annually since 1968, but markets diverge dramatically. Sun Belt metros averaged 10%+ during 2020-2022; coastal markets often lag the national average during correction cycles. Local supply constraints are the main driver.
If you've lived in the home 2 of the last 5 years, you can exclude $250K (single) or $500K (married) of gain from federal capital gains tax. Many calculators show gross profit without applying this exclusion. Relevant when projecting sale proceeds.
Home Sale Capital Gains CalculatorBased on your inputs
🎯 Full capital recycled!
After refi payments
| Purchase Price | $120,000 |
|---|---|
| Rehab Costs | $40,000 |
| Closing Costs (Buy) | $4,000 |
| Total Cash Invested | $164,000 |
| After-Repair Value (ARV) | $220,000 |
| Refi Loan (75% LTV) | $165,000 |
| Cash Pulled Out | $165,000 |
| Money Left in Deal | -$1,000 |
| Equity Retained | $55,000 |
| Monthly Cash Flow (Post-Refi) | $56 |
| Cash-on-Cash Return | ∞% |
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BRRRR = Buy, Rehab, Rent, Refinance, Repeat. You buy a distressed property below market value, renovate it to increase ARV, rent it out to qualify for refinancing, then do a cash-out refinance to pull your capital out and invest again.
Total invested minus refinance proceeds. Invest $80K, pull out $75K via refi = $5K left in deal. Zero means you recycled all your capital (ideal BRRRR). Negative means you actually profited from the refi while keeping the rental!
Most conventional lenders allow 70–75% LTV on cash-out refinance for investment properties. Some portfolio lenders go to 80%. DSCR loans (based on rental income) are popular for BRRRR investors.
If you pull out all your invested cash via the refinance, your ongoing cash flow represents an infinite return — you have $0 of your own money in the deal, so any positive return is technically infinite. This is the holy grail of BRRRR.
Look for distressed properties 20-30% below ARV through foreclosures, auctions, wholesalers, direct mail campaigns, and driving for dollars. MLS-listed properties rarely have enough margin. Build relationships with wholesalers for consistent deal flow.
Most lenders require a 6-month seasoning period before cash-out refinancing. Some DSCR lenders allow refinancing with no seasoning using the appraised value. Plan rehab timeline to finish well before the seasoning period ends.
Budget $15-$30 per square foot for cosmetic rehabs (paint, flooring, fixtures) and $40-$80+ for gut renovations. Always add 15-20% contingency for unexpected issues. Kitchens and bathrooms drive the most ARV increase per dollar spent.
Main risks include overestimating ARV, rehab cost overruns, long vacancy during renovation, appraisal coming in low at refinance, and rising interest rates increasing refinance costs. Mitigate by being conservative on ARV estimates and padding rehab budgets.
Yes, hard money loans are the most common funding for BRRRR acquisitions. They fund 70-90% of purchase plus rehab at 10-14% interest. Points cost 1-3% upfront. The key is refinancing into a permanent loan quickly to minimize carrying costs.
Analyze 3-5 comparable recently sold properties within a half mile that match your planned post-rehab condition. Adjust for differences in square footage, bedrooms, and finishes. Conservative ARV estimates protect against appraisal shortfalls at refinance.
Total Invested = Purchase + Rehab + Closing Costs
Refi Loan = ARV × LTV%
Money Left in Deal = Total Invested − Refi Loan
CoC Return = Annual Cash Flow ÷ Money Left in Deal
Every formula on this page traces to a federal agency, central bank, or peer-reviewed institution. We cite the rule-makers, not secondhand blogs.
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Calculations are for educational purposes only. Consult a qualified financial advisor for personalized advice.