The BRRRR Buy Filter

5 checks before you ever make an offer.

Filter 1 — Refi-Ability

• Conventionally financeable after rehab?
• Neighborhood a lender will actually lend on?
• 3 clean comps in radius?
• Your actual lender confirms current cash-out LTV and seasoning?

A cheap property you can't refinance is not a deal.

Filter 2 — ARV Confidence

• 3 clean comps: same bed/bath, within 10% sf, <6 months, <0.5 mi
• Pull expired listings nearby
• Ask an agent or operator about absorption

Treat ARV like an opposing lawyer. Don't anchor until you can defend it.

Filter 3 — Honest Rehab Math

• Full scope list
• Bids at today's prices; 2-3 bids on major items
• Apply a 15-20% buffer on top of the bid
• Price unknowns (sewer, foundation, roof decking) as if they're present

The bid is not the rehab number.

Filter 4 — Rent Reality

• Leased comps, not asks
• Call 2-3 landlords with recent listings
• Use a conservative number; let reality surprise you upward

Ask rent ≠ paid rent.

Filter 5 — Cash-Left-In

(Verified ARV × conservative cash-out LTV) − (purchase + rehab + holding + closing) = cash left in.

Pick your target before you look at deals. If a deal exceeds your target, pass. Deals negotiate with you. Your buy box should not.

One-Page Checklist

• Refi-ability confirmed (4 checks)
• ARV defensible (comps, expired, absorption)
• Rehab scoped, bid, buffered
• Rent verified with leased comps and landlord calls
• Cash-left-in within target

Next Steps

Grab The Practical BRRRR Starter Pack for the full operator framework.