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Updated about 6 years ago on . Most recent reply

User Stats

111
Posts
38
Votes
Ryan Johnston
  • Flipper/Rehabber
  • Tampa, FL
38
Votes |
111
Posts

QUICK - Need a review of my numbers for deal analysis

Ryan Johnston
  • Flipper/Rehabber
  • Tampa, FL
Posted

Hey BP, I'm doubting my numbers right now because the whole first deal thing. I've ran them tons of times and I want to make sure that they're right. Can someone please give me some notes? Thank you!!

Property Info:

Purchase price: $100,000

Estimated Rehab budget: $25,000

ARV: $180,000

Profit Before Costs: $55,000

Extra Fees on the buy side:

Closing Costs on the buy of an estimated 3.5% = $3,500

No realtor needed for the buy = 0

TOTAL: $3,500

Hard Money lending detail: 115k loan @ 12.99% for 4 months w/ origin fee & draw fees

3.9% Origin fee on loan of 115,000: $4,500 (rounded up)

12.99% Interest Rate for 4 months: $5,000 (rounded up)

Draw Fees: $1,250

Misc Fees (appraisal/commitment/inspection): $1,000

TOTAL: $11,750

Holding Costs (insurance, utilities, lawncare, taxes): $250/mo

TOTAL: $2,000

Selling Costs: 

Closing Costs Estimated at 3.5% of ARV: $6,300

Buyers Agent Commission of 3%: $5,400

Other Misc Expenses: $1,000

TOTAL: $12,700

Summary

+55,000 Profit before fees

-   3,500 Closing Costs on the buy

- 11,750 HML Costs

-   2,000 Holding Costs

- 12,700 Selling Costs

--------------------------------

+  25,050 Profit after all fees are deducted

Did I miss anything here?! I feel like I'm being thorough but I wanted to double check myself!

Thank you!

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