Rental Property Deal Analysis...

[Jason Jones]

Deal or No Deal? I think I know the answer already, but I figured I'd ask.

Purchase Price $48,500
Rehab Costs $7,500
Closing Costs $600
Hard Money Cost $2,845
Total Costs $59,445
After Rehab Value (est.): $87,540
Refinance Amount 80% $70,032
Loan Costs $3,000
Cash back after refi $7,587

Instant Equity: $17,508

Avg. Rental $725.00
Prin & Int. @ 7.3% $477.74

PM Fee 10% $72.50
Tax/ Ins. $125.00
Net cash flow $49.76

I know... rents aren't 2% or PP and negitive with 50% expenses, huh?