Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 9 years ago,
Whats next? The numbers make sense and the cap rate is reasonable
Hello BP fam.
I have analyzed a deal from the front, back, north and south and the numbers make total sense. Now in your Professional and Experienced opinion, how does one go about getting this deal funded? Im only looking to put down 3.5% closing cost and my credit is good around 700. However I can only produce about 20k on paper.
I will list the details below. If I forgot to add any thing please enlighten me to it. How would get this deal funded if this were you scenario?
State Property Assessment 189,400
Arv 200,000
purchase price 59k
closing 3.5
total rehab 100k
rehab and acquisition 162.5k
4 unit property, 6bd 4bth 3,232 sqft
monthly income $2,900 annual $34,800
monthly expenses $2,060 annual $24,720
NOI $21,258
cap rate 11.88%
taxes 4,470
Total operating expenses: | Mortgage expenses: | ||
Vacancy: | $174.00 | Repairs: | $116.00 |
CapEx: | $29.00 | Electricity: | $75.00 |
Water: | $50.00 | Insurance: | $80.00 |
Management: | $232.00 | P&I: | $932.08 |
Property Taxes: 372.5 |