Buy, Rehab, Rent, Refinance, Repeat — BRRRR

We purchased this lovely historic 4 bedroom, 1.5 bathroom home built in 1925 — located within walking distance from Mansfield Senior High School and North Lake Park in Mansfield, OH — in November 2023 for $42,900. We partnered with an investor for this deal.

We completed extensive repairs on the property, including a new roof, kitchen and bathroom remodel, laundry room rehab, living room remodel, a new furnace and water heater, new paint, and more. We initially planned to fix and flip this property but decided to pivot and turn it into a BRRRR deal.

Financials

Purchase Price: $42,900

Repairs & New Appliances: $91,401

Projected Cash-on-Cash Return (Rental): 11%

Cash-Out Refinance Amount: $100,800

Cash Received From Refinance: $92,598

Net Cash Invested (after Refinance): $51,368