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Updated almost 2 years ago on . Most recent reply

User Stats

38
Posts
15
Votes
Ben Layman
  • Rental Property Investor
  • Richmond, VA
15
Votes |
38
Posts

[Calc Review] Help me analyze this deal

Ben Layman
  • Rental Property Investor
  • Richmond, VA
Posted

Would you do this deal? Curious to hear if another investor would pull the trigger on this! 

*This link comes directly from our calculators, based on information input by the member who posted.

Most Popular Reply

User Stats

38
Posts
15
Votes
Ben Layman
  • Rental Property Investor
  • Richmond, VA
15
Votes |
38
Posts
Ben Layman
  • Rental Property Investor
  • Richmond, VA
Replied

@Jaron Walling Thanks so much for the input! 

Yes, I am using a HML for the acquisition. Then doing a cash out refi with a small local bank after 6 months.

I believe the neighborhood is a C- but after checking on Rentometere, BP rent estimator and zillow, I believe I can get at least $1,300 for a 3 bed 1 bath in this area. Full disclosure; this house was started by another investor who may have gotten in over their head. A lot of the work has already been done (kitchens, full baths, 2 new furnaces, water heaters, electrical, flooring and paint. I still need to replace 50% of the windows, the roof and buy 2 new appliance packages. Plus some smaller miscellaneous items. So thats why i'm coming in at $45k rehab.  

The only thing I don't like is that i'll most likely need to leave around $30-$35K of my own money in this deal. But that may be the sacrifice I need to make in this current market. I have another duplex in the Hilltop I bought in 2021. Zero of my own money left in the deal and it cash flows around $450/month. 
Are you an investor in Columbus? 

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