What does cash left in the deal mean?

It is the modeled cash invested that is not recovered through refinance proceeds after debt payoff and refinance costs.

Can a BRRRR refinance return all invested cash?

It can in an optimistic deal, but appraisal, LTV, costs, and lender rules often leave some cash invested.

REAL ESTATE

BRRRR Calculator

Model a BRRRR real estate deal from purchase and rehab through rent and refinance. Estimate cash left in the deal and monthly cash flow.

Cash left in the deal$39,013Initial cash minus net refinance proceeds

Cash out at refinance$32,788New loan minus the original loan balance

Cash flow after refinance$108.90Each month, after the new payment and expenses

THE CYCLE

Buy, repair, rent, refinance, repeat.

46 properties at this cash flow would cover a $5,000 monthly income goal, in about 23.0 years if each cycle takes six months.

Assumes the same market and a completed renovation before the refinance.
Line	Amount
Original loan	$160,000
Original monthly payment	$1,011.31
Cash flow before refinance	$257.44
Cash out	$32,788
Cash flow after refinance	$108.90

THE DEAL

The purchase, the rehab, and the refinance.

Buy

A property below market that needs work.

Purchase priceDown paymentClosing costsCarrying costsInsurance, utilities, and other costs during the renovation.Original loan termYears.Original interest rate

Rehabilitate

Spend to raise the value and the rent.

Repair costsAfter-repair value

Rent

Expected monthly rentMonthly expenses

Refinance

A new loan on the improved value, to pull the cash back out.

Interest rateLoan to valueRefinance closing costsMonthly income goal

How the BRRRR model works

Combine purchase, closing, rehab, and carrying costs to estimate total cash invested.
Estimate stabilized rent and ongoing operating expenses.
Apply the refinance loan-to-value assumption to the after-repair value.
Subtract refinance costs and the original loan payoff to estimate returned cash and cash left in the deal.

Worked example

If an improved property appraises at $200,000 and the refinance is 75% LTV, the new loan is $150,000 before refinance costs and payoff of existing debt.

Assumptions and boundaries

After-repair value, rent, rehab cost, timing, and refinance terms match the entries.
Refinance proceeds are limited by the entered loan-to-value ratio.
Monthly payment uses a fixed-rate amortizing loan.

Important limitation: Appraisals, seasoning rules, lender underwriting, construction delays, overruns, vacancies, and taxes can materially reduce proceeds and returns.

Sources and review

Methodology and links reviewed September 22, 2026. This educational estimate is not financial, tax, legal, investment, or lending advice.

Frequently asked questions

What does cash left in the deal mean?: It is the modeled cash invested that is not recovered through refinance proceeds after debt payoff and refinance costs.
Can a BRRRR refinance return all invested cash?: It can in an optimistic deal, but appraisal, LTV, costs, and lender rules often leave some cash invested.