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Updated over 5 years ago,
Help using calculator for a NOOB
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.