Deal Analysis Help — Orlando, FL

[Ben Morand]

Hey guys! My name is Ben Morand. I am a 20 year old college student and I am a new and aspiring real estate investor. I am eager to get my hands on my first deal, and after some extensive analysis, I found a property in my hometown, Orlando, FL that I am considering submitting an offer on.

SFR, 3 beds, 2.5 baths

Price: $65,000

Estimated repairs: $10,000

Estimated rents: $1,350

Estimated property taxes: $658

Estimated insurance: $202

Vacancy: 5%

Maintenance + CapEx: 12%

Management: 10%

Utilities: paid by tenant

With a conventional loan, I calculated an incredible CoC return and even better ROI. However, as a college student with no source of income (good credit score though, ~750) I will definitely need to utilize a hard money lender and refinance into a conventional loan after a year or so.

Even when taking a hard money lender into consideration, I found that with a 12% interest rate and 4 points (these are just estimates, I haven't yet connected with a lender), the CoC return still seems to be positive.

I am sooo excited and motivated to get my feet wet in the world of real estate, so if a few people would be willing to run my numbers and confirm that this is a strong deal, I would appreciate that so much! Thanks everyone!

[Larissa Baker]

@Ben Morand

Make sure you check the park fees don't hit your cash flow number.