BRRRR calculator
Enter the purchase, rehab, rent and refinance to see how much cash comes back out. Change any number and the results update.
Also assumed: a 30-year loan, 5% of rent each for repairs and capital expenditures, and tenants paying utilities. The refinance is a 30-year loan the month after the rehab ends, and vacancy is 5%.
Results
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A full analysis adds every expense, a 30-year projection, what-if sliders, a PDF report and a link to share with partners.
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A $140,000 house with $40,000 of repairs and a $240,000 after-repair value, rented for $2,100 a month, then refinanced at 75% of its value.
- Purchase price
- $140,000
- Closing costs
- $4,200
- Repair costs
- $40,000
- After-repair value
- $240,000
- Down payment
- 20%
- Interest rate
- 10%
- Rehab time
- 4 months
- Monthly rent
- $2,100/mo
- Property tax
- $2,400/yr
- Insurance
- $1,200/yr
- Property management
- 10%
- Loan-to-value
- 75%
- Refinance rate
- 6.5%
- Refinance closing costs
- $5,000
- Cash flow after refinance
- $148
- Return after refinance
- 12.6%
- Cash left in the deal
- $14,080
- Equity after refinance
- $60,000
After the refinance only $14,080 stays in the deal, and the property still cash-flows $148 a month: a 12.6% return on the cash left in, with $60,000 of equity.
How it's calculated
- Cash left in the deal
- Everything you put in (down payment, closing costs, repairs, holding costs during the rehab and the refinance's closing costs) minus what the refinance pays out after clearing the first loan.
- Cash flow after refinance
- Rent minus the new loan payment, tax, insurance and reserves for vacancy, repairs, capital expenditures and management.
- Return after refinance
- A year of cash flow after refinancing divided by the cash left in the deal. If you got all your cash back, it's unlimited.
- Equity after refinance
- After-repair value minus the new loan.
What's a good result?
The goal is to leave little or no cash in the deal while it still cash-flows after the refinance. Many investors aim to buy and rehab for 70–75% of the after-repair value or less.
Questions
What loan-to-value will a lender give?
Cash-out refinances on rentals are commonly 70–75% of the appraised value. Some lenders require you to own the property for 6–12 months first.
What if the appraisal comes in low?
You get less cash back and more stays in the deal. Try a lower after-repair value to see how much margin you have.
What does the full analysis add?
Interest-only rehab loans, a custom refinance month, PMI, a 30-year projection, what-if sliders, saved scenarios and a PDF report.
Learn more: BRRRR. More calculators: Rental property · Airbnb · Fix & flip · Mortgage · Cap rate · Cash-on-cash return · 70% rule