ALDOCHANDRA Start a build

Underwriting worksheet — No. 01

BRRRR calculator

Buy, rehab, rent, refinance, repeat — stated as a one-page memo: what goes in, what comes back out at the refinance, and what the leftover capital actually earns.

Basis of estimate
Year one, stabilised, post-refinance
Leading measure
Cash-on-cash return on capital remaining
Prepared by
Aldo Chandra, Philadelphia PA

Cash-on-cash return

--

--

Annual cash flow measured against the capital still sitting in the deal once the refinance clears. Everything below is the arithmetic behind that one number.

Supporting measureYear one
Monthly cash flow-- --
Annual cash flow --
Cash left in deal --
Total return incl. forced equity --
01

Schedule of assumptions

Adjust any line; every figure on this page restates immediately.

Purchase

Line itemAssumption
$
%
%
%

Rehab

Line itemAssumption
$
$

Taxes, insurance, utilities and debt service per month while the crew is in there.

mo

Rental income

Line itemAssumption
$
%
%
$
$
%

Refinance

Line itemAssumption
$
%
%
yr
%
02

Capital account

All figures rounded to the dollar.

Cash into the deal

ItemAmount
Down payment--
Closing costs--
Rehab budget--
Holding costs----
Interest during rehab--
Total cash invested--

Cash back at refinance

ItemAmount
Refinance loan amount----
Less purchase loan payoff--
Less refinance closing costs--
Net proceeds to you--
Capital recovered -- -- of --

Position after refinance

ItemAmount
Cash still in the deal--
Equity position----
Debt service, monthly--
03

Operating statement

Per month, stabilised.

ItemAmount
Gross scheduled rent--
Less vacancy--
Less property management--
Less insurance--
Less property tax--
Less maintenance reserve--
Less debt service--
Net cash flow--

This worksheet gives estimates for planning, not a lender approval. Appraised value, rehab scope, rent, and refinance terms all move once you are in the deal, so confirm the numbers with your lender, contractor, and accountant. It is not tax, legal, or investment advice.

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