BRRR stands for Buy, Refurbish, Refinance, Rent. You buy a property below its potential value, improve it, then remortgage at the higher value to pull some or all of your cash back out, and keep the property as a rental.
This calculator works through a whole BRRR deal: purchase price, stamp duty and buying costs, the refurb, bridging or cash, the new valuation and refinance, then the money left in the deal, the equity created, monthly cashflow and cash-on-cash return.
| Purchase price | £120,000 (bought with cash) |
|---|---|
| Stamp duty (additional property) | £6,000 |
| Legal and other buying costs | £2,000 |
| Refurb | £30,000 |
| Total cash in | £158,000 |
| New valuation | £190,000 |
| Refinance at 75% loan-to-value | £142,500 |
| Money left in the deal | £158,000 − £142,500 = £15,500 |
| Mortgage interest at 5.5% | About £653 a month, interest only |
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Buy, Refurbish, Refinance, Rent. The aim is to add value with the refurb so that the remortgage at the new value returns most of the money you put in, leaving you with a let property and cash to use on the next deal.
Add up everything you spent (price, stamp duty, fees, refurb and any bridging costs) and take away the new mortgage. If the refinance covers it all, you have pulled all your money out. The calculator shows this figure for you.
Many lenders want you to have owned the property for 6 months before they lend on a higher valuation, though some will lend sooner after works. Check with a broker before you buy, because it changes how long your cash is tied up.
It depends on your goals. Investors usually look at money left in, monthly cashflow after the new mortgage and the cash-on-cash return on what remains in the deal. The calculator shows all three so you can compare deals.
Education, not advice. Rules change and depend on your circumstances. Check GOV.UK and speak to a qualified adviser before you act.