BRRRR in Rhode Island

• Local codes & permits: Rehab timelines and requirements vary by city/county; confirm inspections early.
• Property taxes & insurance: Reassessments and rate shifts can impact DSCR; underwrite conservatively.
• Landlord‑tenant rules: Screening, deposits, notices, and eviction processes differ by jurisdiction.
• Contractor capacity: Validate bids, scope, and change order terms; keep tight draw schedules.
• Refi criteria: Seasoning, LTV, DSCR, and appraisal standards influence your timeline and proceeds.

Regulatory Landscape

• Eviction process and timelines differ by county/city; consult local counsel for notices and filings.
• Short‑term rental rules may be city‑specific; verify licensing and occupancy limits.
• Permit requirements vary by scope; confirm inspections and lead/asbestos rules before starting rehab.
• No legal/tax advice; validate with licensed professionals in relevant jurisdictions.

Financing Tips

• Model exit scenarios if ARV or rent land below target.
• Carry reserves for overruns and refinance delays.
• Lock rates strategically; track market movements.
• Document rehab thoroughly to support appraisal value.

Speak with Jake N Finance Group to size leverage and timeline.

Financing Benchmarks

• Target DSCR ≥ 1.20–1.30x at conservative rent and expense assumptions.
• Purchase LTV often 70–85% depending on product and experience.
• Refi LTV often 65–75% subject to ARV appraisal and DSCR.
• Seasoning can range 3–12 months; verify with your lender before starting.
• Carry 10–15% rehab contingency and 6–12 months of reserves.