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Updated about 8 years ago on . Most recent reply

Looking to Refinance a package of 6 properties
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.
Address | SFR | SFR | 3 - QUADPLEXES | DUPLEX | SFR | SFR | Totals | |
Status | leased | leased w option | 50% occupancy | vacant | leased w option | leased w option | 61.11% | |
Date Purchased | 3/6/2016 | 4/28/2016 | 2/1/2016 | 1/22/2016 | 8/2/2016 | 8/8/2016 | ||
Date Occupied | 12/1/2016 | 6/1/2016 | varied | 12/1/2016 | 12/1/2016 | |||
Year Built | 1970 | 2007 | 1982 | 2003 | 1994 | |||
# of Units | 1 | 1 | 12 | 2 | 1 | 1 | 11 of 18 | |
Bed | 3 | 3 | 12 | 4 | 4 | 4 | ||
Bath | 2 | 2 | 12 | 3 | 2 | 2.5 | ||
SQ FT | 1400 | 1600 | 5700 | 2600 | 1497 | 2092 | ||
Condition | Remodeled | tenant repaired | 7 of 12 Reno | Under Reno | Remodeled | Remodeled | ||
Repair Remaining | 0.00 | (12,200.00) | (12,000.00) | 0.00 | 0.00 | (24,200.00) | ||
Rental Est | 750.00 | 1,200.00 | 4,920.00 | 1,400.00 | 1,000.00 | 700.00 | 9,970.00 | |
Actual Rents | 750.00 | 1,451.00 | 2,310.00 | 0.00 | 1,000.00 | 700.00 | 6,211.00 | 62.30% |
difference | 0.00 | 251.00 | (2,610.00) | (1,400.00) | 0.00 | 0.00 | 3,759.00 | 37.70% |
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 Price | 90,000.00 | 125,000.00 | 295,200.00 | 150,000.00 | 100,000.00 | 70,000.00 | 830,200.00 | |
Estimated Equity | 25,000.00 | 35,000.00 | 215,200.00 | 104,000.00 | 19,700.00 | 12,000.00 | 410,900.00 | 49.49% |
% of ARV | 72.22% | 72.00% | 27.10% | 30.67% | 80.30% | 82.86% | 60.86% | |
Zestimate | 87,693.00 | 151,306.00 | - | 62,834.00 | 105,365.00 | 79,801.00 | ||
Realtor Est | - | 151,911.00 | - | 139,706.00 | - | - | ||
Redfin Est | 88,810.00 | 108,461.00 | - | 38,858.00 | 98,427.00 | 54,300.00 | ||
median Home | 125,750.00 | 147,595.00 | 58,818.00 x 3 | 99,000.00 | 49,900.00 | 45,240.00 | ||
Online Avg Est | 100,751.00 | 139,818.25 | 176,545.00 | 85,099.50 | 84,564.00 | 59,780.33 | 646,467.08 | |
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/Trash | 0.00 | 0.00 | (680.00) | (60.00) | 0.00 | 0.00 | (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) | 0.00 | 0.00 | 0.00 | (306.00) | -10.00% |
Current Net Operating Income | 469.26 | 1,151.07 | 544.58 | (166.95) | 701.82 | 502.33 | 3,202.11 | |
ProForma NOI | 469.26 | 900.07 | 3,154.58 | 1,233.05 | 701.82 | 502.33 | 6,961.11 |
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