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Updated about 6 years ago,

Account Closed
  • Rental Property Investor
  • Birmingham, MI
71
Votes |
60
Posts

$373.33 Cashflow deal and how do I find money?

Account Closed
  • Rental Property Investor
  • Birmingham, MI
Posted

This opportunity is in Detroit so you know before you send the check in the mail...

I found this deal through a local REI group website and ran the numbers with some success. Cash flow would be almost $400 with very conservative withholding for such things as CapEx and vacancy, but how do I find $30,000 and at what percentage should someone only offering the money be considered at? Some things to consider, this SFH purchase price is only about 25% of the total amount needed to work, the remaining is rehab costs. A bank loan is not an option and seller financing isn't going to get me done because 3/4 of the project is rehab costs. I would like to use $0 of my own because I am leveraged with my construction company for the time being.

PS: I have a nice PDF courtesy of the BP Calculator rationalizing my thoughts.

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