[Calc Review] Help me analyze this deal

[Wayne Warren]

View report

*This link comes directly from our calculators, based on information input by the member who posted.

PLEASE DISREGARD MY PREVIOUS POST.  I FORGOT TO INSERT THE CURRENT RENT .  $1890 is not current rent, $1550 is current.

This is two houses paired together for a total of $440K so I have assumed they are each $220K.  The current rent for one of them is $1550.  I need to know if the other numbers I have used seem reasonable because right now the calculator is telling me this is not a deal I want to do.  $220 x .7 = $161K minus $30k rehab = $131K purchase price.

"Holding Costs" - could someone define those for me?  I see nothing on the calculator that does that.  A SUGGESTION FOR THE CALCULATOR.

Thank you for your help.

[Jaysen Medhurst]

@Wayne Warren, you'll need at least 6 months to refinance. This is a typical "seasoning period" required by most lenders.

• Repairs and CapEx will probably be closer to 15% of GSR all in.
• You're not accounting for insurance.
• What about water/sewer or shared utilities? Will those all be tenant paid?

This property is pretty far off from the 1% rule. It's most likely a pass.