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Updated over 16 years ago,
Should I walk from this?
I cannot go for this without first asking here...This looks like it will cash flow but I must keep in mind that I have to repay that HELOC or Refi in a year and cash out if possible.
Price: 123,500.00
Down : 3% 3,705.00
Closing Cost: 1490.20
Repair (Heloc at 5.24)% 20,000.00
Out of Pocket: 25,194.20
Mortgage Rate: 6.30
Rental Income: 2,250.00
Monthly Annual
Gross Potential Income: 2,250.00 27,000.00
Total Expenses: 1,265.00 15,180.00
Net Operating Income: 985.00 11,820.00
Debt Service:
Mortgage: 741.50 8,898.00
Cash Flow: 243.50 2,922.00