Buy
Underwrite purchase, rehab, rent, refinance loan-to-value, cash left in, and the cash-flow that remains.
Model the refinance before you call it a BRRRR.
Buy, rehab, rent, refinance, and repeat only works when the appraisal, the loan-to-value, and the cash left in the deal are calculated before you close.
2026-017 · OakridgeBRRRR
OverviewBudgetScheduleTasksFiles
Total budget$632,500of $650,000
Costs to date$318,72049% complete
Projected value$980,000On track
Land$95,000Complete
Hard costs$166,450On track
Soft costs$32,180On track
Financing$23,090On track
Rehab
Manage scope, budget, schedule, vendors, draws, receipts, photos, permits, and contingency.
Rent
Lease the property you underwrote. Stabilized rent is the rent on a signed lease, not the listing estimate.
Refinance or hold
Compare proceeds with cash invested. If the refinance does not return your capital, the repeat step waits.
Cash left in the deal is the BRRRR result
Illustrative screen. Purchase $180,000, rehab $40,000, acquisition and carrying costs $8,000. Cash invested $228,000. Stabilized value $280,000 at 75% loan-to-value.
Refinance proceeds$210,000
Cash left in the deal$18,000
Effective rent$2,090 per month after 5% vacancy on $2,200
Operating costs and debt$2,100 per month
Monthly cash flowAbout zero
The refinance returns most of the cash and almost none of the monthly surplus. That can still be a hold if you wanted the equity and can carry a thin month. It is not a repeat engine until rent, expenses, or rate assumptions improve. Run your own inputs in the BRRRR calculator before you tell a partner the deal is infinite returns.
Common questions
What this strategy page will and will not decide for you.
What is the BRRRR method?
Buy, rehab, rent, refinance, repeat. You force value with repairs, lease the property, then refinance against the stabilized value and decide how much cash is still stuck in the deal.
Why not use the flip ARV as the refinance value?
A retail buyer and a refinance appraisal can land on different numbers. Underwrite the refinance value your lender is likely to support, and keep the flip ARV as a separate exit.
Does cash-out mean the deal was free?
Only if proceeds cover everything you invested and the remaining debt still cash-flows after vacancy, expenses, reserves, and the new payment. Many files return some cash and leave a balance.
Where do repairs live during the BRRRR?
On the same property record as the refinance model, so a change order updates both the budget and the cash you expect to leave in.
Which guide should I read next?
The beginner BRRRR guide walks a full example. The rental expense guide keeps NOI and debt service from being mixed.
Keep the numbers, work, files, and outcome connected.
Every strategy starts the same way: analyze the deal before you commit. Run one free analysis in your browser. No account and no card for that screen.