YieldBadger

BRRRR calculator

Buy, rehab, rent, refinance, repeat. See how much cash stays in the deal after the refinance and whether it still cash-flows.

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Enter a ZIP or address to fill rent, property tax (on the ARV) and refinance rate. Every value stays editable.

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Buy
$
$
%
%
Rehab
$
mo
$
Refinance
$
%
%
yrs
$
Rent
$
$
%
Operating expenses
$
$
$
%
%
%
$
$
Cash left in deal
$13,400
Cash flow / mo
-$263.23
Cash-on-cash
-23.57%
Cash out at refi
$219,000
DSCR
0.83
Total cash invested
$232,400
Purchase loan
$0.00
Purchase loan interest
$0.00
Holding costs
$2,400
Refi loan
$225,000
Refi payment (P&I)
$1,573
NOI / mo
$1,310
Cash left in deal$13,400

How this is calculated

  1. 1Cash invested = purchase price − purchase loan + closing costs + rehab + holding costs × months + purchase loan interest × months (interest-only).
  2. 2Refi loan = ARV × refi loan-to-value %.
  3. 3Cash out at refi = refi loan − purchase loan payoff − refi closing costs.
  4. 4Cash left in deal = cash invested − cash out. Zero or negative means all of your cash came back.
  5. 5Collected income = (rent + other income) × (1 − vacancy %).
  6. 6Operating expenses = property tax ÷ 12 + insurance ÷ 12 + HOA + utilities + other + maintenance % and CapEx % of rent + management % of collected income.
  7. 7NOI (net operating income) = collected income − operating expenses.
  8. 8Cash flow after refi = NOI − new mortgage payment (standard fixed-rate formula).
  9. 9Cash-on-cash = annual cash flow ÷ cash left in deal. When no cash is left and cash flow is positive, the return is infinite.

The refinance depends on the appraisal: if the property appraises below your ARV, the loan and cash-out shrink. Some lenders also require 6–12 months of ownership before a cash-out refinance.