What makes this a decent deal (for buyer and seller)

[David Masterson]

Hi Guys,

I'm thinking about posting a deal and wanted 2nd opinion on numbers. Property is furnished 3 bed 3 bath beach front on FL Gulf (Alligator Point). 

- Property is currently operating as STR with ~ $75K bookings YTD

- House is currently for sale unfurnished for $925k

- Furnished with seller finance and existing loan wrap option is $1M (even if possible to wrap current loan??) 

Any advice is appreciated!  Here are some details: 

[Jeff Langley]

Strictly my opinion here but seems overpriced for those returns. I never rely on 100% of airdna projections. I’d get the current bookings/revenue and break it down and project that. 

My concern is the coc is under 10% and that’s with a favorable interest rate. Worst case you have to exit the ballon and rates are still high, you’d take a huge cut.