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Updated over 5 years ago on . Most recent reply

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35
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29
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Robert Schulmeisters
29
Votes |
35
Posts

Help using calculator for a NOOB

Robert Schulmeisters
Posted

Looking to buy a foreclosure 1 family $70k with hard money @10-12%.

Needs $30-40k repairs, depending if I do some work or hire all.

est 3 months for work so I double to 6 months

ARV $225k my broker seller says $240-$260k comp.

Rent in area $1,800 for 3 bedroom , this house 500' bigger and possible 4th bedroom.  

Taxes 6k per year

Tennant will have utilities and seasonal upkeep.

I have insurance $150/month

House was bough at peak most renovations done, but not finished.  Insulated, SR 75% taping but not painted.\

Does need new windows & floors Kitchen and bath work.

When I do #s in hard money and refinance, I get weird results.  I am trying to figure out sweet spot of how much OPM vs ours.

Any help would be appreciated.

  • Robert Schulmeisters
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