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BRRRR Calculator

Buy, Rehab, Rent, Refinance, Repeat. The deal works if the cash-out refi recovers most of your invested capital. This calculator models the full cycle and shows your cash left in the deal: the number that determines how fast you can scale.

Buy & Rehab

All-cash purchase + rehab. Most BRRRR investors fund this from a HELOC, hard money, or savings.

$
$
$

Hard money interest, taxes, insurance, utilities during rehab.

Refinance

$
%

DSCR cash-out refi typically 75% LTV.

%
years
% of loan

Rental Operations

$
% of rent

Post-Refi Result

$8,850

cash left in the deal

Lower is better. Zero is the holy grail.

Total Invested
$198,000
purchase + rehab + carry
Refi Loan Amount
$195,000
ARV × LTV
Refi Closing
$5,850
rolled into cash left in
Monthly P&I
$1,363
post-refi
Annual Cash Flow
-$522
NOI − debt service
Post-Refi CoC
-5.89%
cash flow ÷ cash left in
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The five steps

  1. Buy: distressed property, in cash or hard money, well below market.
  2. Rehab: bring the property to market condition. Budget conservatively.
  3. Rent: place a tenant. Most DSCR lenders require this before a cash-out refi.
  4. Refinance: long-term fixed-rate loan at 75% LTV of the new ARV. Cash out the difference.
  5. Repeat: redeploy the recovered capital into the next deal.

The key formula

Cash Left In Deal = (Purchase + Rehab + Carry) − (ARV × 75%) + Refi Closing Costs
Lower is better. Zero or negative is "infinite cash-on-cash."

Frequently asked questions

What is BRRRR?

BRRRR is Buy, Rehab, Rent, Refinance, Repeat. The strategy: buy a distressed property in cash (or hard money), rehab it, rent it out, then cash-out refinance based on the higher After-Repair Value to recover most of your capital. Repeat with the same dollars.

How does the cash-out refi math work?

Most DSCR lenders cap cash-out refis at 75% loan-to-value of ARV. Loan = ARV × 75%. If your all-in cost (purchase + rehab + carry) is less than the new loan, you get all your cash back (and sometimes more). If it’s more, you have "cash left in the deal."

What is "infinite cash-on-cash"?

When the refi loan exceeds your total cash invested, you have $0 (or negative) cash left in the deal but still own a cash-flowing rental. Cash-on-cash = cash flow ÷ cash invested = ∞. The holy grail of BRRRR.

How long is a typical BRRRR cycle?

4 to 9 months. Buy + close (30 days), rehab (1 to 4 months), tenant placement (1 to 2 months), then refinance (most lenders require a 6-month seasoning period before cash-out refi at full ARV). Hard-money interest during the cycle is a real cost.

What can go wrong?

ARV miss (the appraisal comes in below your projection), rehab over-budget, tenant placement delays, rate spikes during the seasoning period, or a refi loan that won’t hit 75% LTV (lender LTV caps differ). Build in 10% to 20% margin everywhere.

Do I need experience for BRRRR?

It’s an intermediate-to-advanced strategy. Most successful BRRRR investors started with 1 to 2 buy-and-hold rentals and a flip or two before attempting a full BRRRR. The financial discipline and contractor management are the gating skills.

BRRRR vs. flip: which makes more sense?

BRRRR keeps the asset and recovers capital. A flip exits the asset for a profit. Same purchase + rehab math; different end state. BRRRR is the long-term wealth path; flips are the cash-now path. Many investors do both, flipping to fund BRRRR down payments.

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