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Updated over 5 years ago on .

Daniel Pitner's profile image
Daniel Pitner's profile image
Daniel Pitner
  • Realtor
  • from Peoria, AZ
  • Member since Jun 7, 2018
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User Stats

107
Posts
26
Votes
Daniel Pitner's profile image
Daniel Pitner's profile image
Daniel Pitner
  • Realtor
  • from Peoria, AZ
  • Member since Jun 7, 2018
Connect
Daniel Pitner
  • Realtor
  • Peoria, AZ
26
Votes |
107
Posts
Starting Out

Help Analyzing a Deal (Primary Resident with Casita)

Daniel Pitner
  • Realtor
  • Peoria, AZ
Posted

My wife and I are looking to purchase a property that needs some rehab. It would be our primary residence, but has an external 900 square foot garage that we would turn into a casita.  The casita would rent for around $800/month and between the house rehab and the garage conversion we are looking at about $50k in rehab costs. Here are the numbers: 

Purchase Price: $335

Rehab Cost: $50k

ARV: $450

Monthly Rental Income: $800


Would you take on this deal? What things should I ask? How would you finance this? 

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