Am I missing something or is this as good as I think?

[Donald S.]

Hey everyone, I'm new to this so when I ran the numbers with the BRRRR calculator I thought, I have to be crazy. Can someone help me, am I missing something here or should I go for this immediately? (note, my "repair est" I'm not concerned with it be slightly off I've budgeted for 10k surprise, and the "ARV" is based on my own comps, not my realtors yet)

Purchase: 54k

Closing: 2.5k

Repairs: 12k

Proj Cost: 68.5k

ARV: 90k

2 months to rehab, 6 to refi

Purchased w/ traditional 30yr

Down Payment: $10,800.00

Loan Amount: $43,200.00

Loan Points/Fees: $0.00

Amortized Over: 30 years

Loan Interest Rate: 6.13%

Monthly P&I: $262.49

Total Cash Needed At Purchase: $25,300.00

Refinance: W/ Traditional 30yr

Loan Amount: $67,500.00

Loan Fees: $1,000.00

Amortized Over: 30 years

Loan Interest Rate: 6.13%

Monthly P&I: $410.14

Total Cash Invested: $1,744.84

Expenses:

Vacancy $91.00 (7%)

Repairs $65.00 (5%)

CapEx $65.00 (5%)

Water & Sewer $30.00 (2%)

Garbage $14.00 (1%)

Insurance $215.00 (17%)

Management $130.00 (10%)

P&I $410.14 (32%)

Property Taxes $58.33 (4%)

Total $1,078.47 (83%)

Monthly Income:                    Monthly Expenses:               Monthly Cash Flow:                    Pro Forma Cap Rate:

$1,300.00                                     $931 / $1,078                          $369 / $222                                       8.42%

NOI Total Cash Needed Cash on Cash ROI Purchase Cap Rate

$7,580.00                                      $25,300.00                            17.5% / 152.4%                                   14.04%

So am I missing something here? On a side note if someone wants to partner with me, since this is my 1st potential deal I'd gladly welcome a knowledgeable partner.