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Updated over 6 years ago on . Most recent reply
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Help Analyzing My First Buy & Hold
Hello guys. I've bought my first property as a FHA live-in flip in 2016, but after being 80% done I'm starting to change my mind on whether I should sell it. Especially since I don't have anywhere else to live. So I was looking around at properties in my area and found a duplex. I wanted to see what people with more experience think about this analysis of the property.
Both units are occupied and are renting at $750.
The seller is asking for $115,000 but I was going to offer $110,000
I haven't seen the inside of the house, but since the house is fully occupied I wasn't going to do any repairs on the place yet.
Down Payment: $23,000
My analysis says: $1,500.00 MONTHLY INCOME
$847.15 MONTHLY EXPENSES
$652.85 MONTHLY CASHFLOW
11.51% PRO FORMA CAP
$13,233.00 NOI
30.13% CASH ON CASH ROI
11.51% PURCHASE CAP RATE
Do these numbers make sense or am I missing something vital. Every time I do an analysis I feel like I'm wrong so I don't pull the trigger. I think I've been having analysis paralysis. Any help will be appreciated.
Most Popular Reply
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Would you mind breaking out your expenses into PITI, vacancy, capital expenditures, etc. to see if there's anything that might be missing? Just curious how you landed on $847.15.