Updated almost 11 years ago on . Most recent reply
Subject 2 help check out my numbers
Okay first subject to deal and i think the sister just killed it when she gave me the new payoff amount.
check out the numbers on this subject to:
$15,372.19 to catch up on the mortgage
$ 2,000k to sister to move out. amount coming backout of their profit.
$ 4,715.14 in back taxes and liens I'm going to pay up front to clear title but its coming out their profit.
purchase price $240,000k
arv 360,000
rehab 45k
pay off amount 188,320.40k
okay I'm paying 15,372k to take over loan then rehab the property for 45k then pay off the mortgage on that back end. I'm going to give the owners their profit before i rehab and don't forget 2k for cash for keys that's coming out their profit.
backend
$25,200 closing cost that's 7% of arv 360k
Tell me what you get
THIS **** GOT MY HEAD HURTING WHEN I SAW THE NEW PAYOFF BUT ITS A DEAL KILLER.