Updated almost 9 years ago on . Most recent reply
SFH Central Florida - Need help with analysis!
Hey guys,
I have what I believe to be a good deal in central florida however I'm not 100% sure! Hopefully you guys can help me out with this, I really need to know how to analyze this asap so I can secure this deal!
Property fmv from comps is approx. $200,000. I can pickup the property for $180,000. Taxes are $4100. a year, insurance is $100/mth, HOA is $125/mth. The property is in great condition and may only require minor cosmetic improvements such as a fresh coat of paint max! Rent in the area is anywhere between $1550 - $1675.
How do I analyze this CORRECTLY to know if its a good deal or not. I want to hold on to this property and just cash out refinance as I build equity. I'd like to get financing where I only have to put 10% down, however I am able to put 20%.
Thanks for your time and help!