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Updated about 8 years ago on . Most recent reply

User Stats

83
Posts
18
Votes
JaMarcus Joseph
  • Wholesaler/ Buy and Hold Investor
  • Sherwood, AR
18
Votes |
83
Posts

Looking to Refinance a package of 6 properties

JaMarcus Joseph
  • Wholesaler/ Buy and Hold Investor
  • Sherwood, AR
Posted

I'm looking to refinance these properties into longer term financing. I'd like to pull out some cash to buy out a business partner and complete the remaining rehab on the 12 unit and duplex. I'm also open to equity play. Don't hesistate to ask any questions or make suggestions about this spreadsheet even if you're not interested in lending or forming a partnership. Thanks. 

AddressSFRSFR3 - QUADPLEXESDUPLEXSFRSFRTotals
Statusleasedleased w option50% occupancyvacantleased w optionleased w option61.11%
Date Purchased3/6/20164/28/20162/1/20161/22/20168/2/20168/8/2016
Date Occupied12/1/20166/1/2016varied12/1/201612/1/2016
Year Built19702007198220031994
# of Units111221111 of 18
Bed3312444
Bath2212322.5
SQ FT140016005700260014972092
ConditionRemodeledtenant repaired7 of 12 RenoUnder RenoRemodeledRemodeled
Repair Remaining0.00(12,200.00)(12,000.00)0.000.00(24,200.00)
Rental Est750.001,200.004,920.001,400.001,000.00700.009,970.00
Actual Rents750.001,451.002,310.000.001,000.00700.006,211.0062.30%
difference0.00251.00(2,610.00)(1,400.00)0.000.003,759.0037.70%
Mortgage(65,000.00)(90,000.00)(80,000.00)(46,000.00)(80,300.00)(58,000.00)(419,300.00)-50.51%
ReFi ARV or Option Price90,000.00125,000.00295,200.00150,000.00100,000.0070,000.00830,200.00
Estimated Equity25,000.0035,000.00215,200.00104,000.0019,700.0012,000.00410,900.0049.49%
% of ARV72.22%72.00%27.10%30.67%80.30%82.86%60.86%
Zestimate87,693.00151,306.00-62,834.00105,365.0079,801.00
Realtor Est-151,911.00-139,706.00--
Redfin Est88,810.00108,461.00-38,858.0098,427.0054,300.00
median Home125,750.00147,595.0058,818.00 x 399,000.0049,900.0045,240.00
Online Avg Est100,751.00139,818.25176,545.0085,099.5084,564.0059,780.33646,467.08
Monthly Taxes(51.49)(87.50)(133.33)(46.70)(117.60)(46.67)(483.30)-7.78%
Insurance(79.25)(67.33)(490.08)(60.25)(80.58)(81.00)(858.50)-13.82%
Utilities/Trash0.000.00(680.00)(60.00)0.000.00(740.00)-11.91%
Property Management(75.00)(145.10)(231.00)0.00(100.00)(70.00)(621.10)-10.00%
Maintenance (75.00)0.00(231.00)0.000.000.00(306.00)-10.00%
Current Net Operating Income469.261,151.07544.58(166.95)701.82502.333,202.11
ProForma NOI469.26900.073,154.581,233.05701.82502.336,961.11
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