Practicing Analyzing Deals

[Samuel Liapis]

Hello All,

I am trying to practice Analyzing deals and this deal seems pretty good. I will not be purchasing because I just want to practice right now. Can someone confirm if my numbers are correct?

https://www.trulia.com/p/il/cicero/1241-s-57th-ct-cicero-il-60804--2104782002

Asking: 135k

I figure I can most likely get this for 125k.

Rehab looks to be around 120k

3 kitchens, 3 baths, Laminate throughout.

Comps look close to 325k for an ARV.

Rental comps look to be around 1500.

Please let me know how I did!

[Steve Morris]

Looked at what else Trulia had in that ZIPcode and highest is $320K and most is around $270K

Recheck your comps.  What are you expecting to do for $120K and how much does Cicero charge for soft costs and then the tax adjust?

A mortgage at $200K and 3.5% = $900. Which leaves $600/month for expenses, so figure those, especially prop taxes and reserves.  I think you're kinda skinny on the CFBT, but maybe that's Chicago.