2nd house out of 25 in the next 4.5 years

[David Bull]

Just got the second house in my current partnership!  

3 bed 1 bath house for 80k. Will need about 10k of cosmetic work and some minor plumbing. Interest rate is 6.3 and cash to close was $23,500.00 due to higher closing costs with DSCR loans. Gross rents are $1,250.00 a month and we have a two-year lease in place currently. PITI amount is $566.00.

Hopping on call with our realtor tonight to outline our next offer!

[Jaycee Greene]

Hey @David Bull, welcome to the BP Forum! I'm assuming the rehab will only take 1-2 months, is that right? What's ARV, $110k? And what are you using to estimate your returns, IRR, CoC%, or EMx? I assume the lender capped your loan amount to 75% of the ARV?