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Updated about 9 years ago,

User Stats

83
Posts
25
Votes
Matt Kauffman
  • Rental Property Investor
  • North Canton, OH
25
Votes |
83
Posts

Creative Finance 0 down deal help

Matt Kauffman
  • Rental Property Investor
  • North Canton, OH
Posted

Hey BP family, 

I'm working on a duplex deal right now. I've never done a deal like what I'm trying to pull off. So I could use a hand figure this out. 

3bd 1ba one side 3bd 1.5ba other side

Listed @ $115,000

Potential rent after rehab - $850/side

Total Est. rehab expense = $50-60K obviously major Cap Ex with complete redo of kitchens and baths.

ARV = $180K

What i would like to do is Private money or Hard money finance the purchase and rehab cost and then refinance as soon as I can. 

I want to buy it for $80-90K with Cash (from private or hard money @ 15%apy)

Have about $140K in total rehab/purchase cost and refi at 75/25

Take the cash and pay off private/hard money loan and have a 25% equity stake as well as tenants paying rent. 

anything I'm missing or should be aware of? One thing I realize is that the numbers won't be perfect and I'll probably still end up with at least $10K out of my own pocket and maybe more, but I figure I could live with that to have this kind of deal and property. 

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