BRRRR Analysis Assistant

[Yishi Pan]

Hi BP Community and Investors,

I'm looking at a property to brrrr invest and wanted some advice on proposing an offer. Here are the details as follows:

1. Asking Price: 120k needs TLC

2. Comparable Market Analysis ARV average (most recent sold in past 6 month): 240k

3. Repair cost: 100k - 150k, haven't inspected and might have more surprises work included: interior gut job down to studs and exterior window/doors/siding/roof

4. Holding cost:  Property tax 200/month; insurance 170/month; Utility (Property vacant) 80/month; Other cost 80/month

5. Renovation period 6 - 10 month 

6. Refinance after stabilized with tenant in 12 month

7. Market rent after project complete is $3740/month 

What is the max offer that I should offer to use hard money for this project or is it even possible?

I've also consider to finance through bank with construction loan; wondering how that typically works? I'm from Canada.

Appreciate any feed back, Thanks!