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Updated over 6 years ago on . Most recent reply
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[Calc Review] Help me analyze this deal
Hello. I am new to real estate investing and I have been deep diving into the biggerpockets webinars to learn all that I can. I have been analyzing properties for the past several weeks using the BP calculators. I have been working with a real estate agent to get listings off the MLS and to confirm that my ARV calculations are correct via comps he has access to. I found a property that meets the $200/unit and 12% Cap rate that Brandon Turner speaks about in his webinars and training videos. I have attached the information sheet to this post. My issue is financial. Calling one bank and researching another, I have found that a traditional loan will require a 25% down payment and then cost upwards of 6% for the loan on investment properties. I don't have the down payment. I realize there is a cost to everything so, what I am asking for is advice or guidance on how to pursue this deal, if it is indeed pursuable. Also, any suggestions on financing options? I look forward to your replies, advice, etc.
*This link comes directly from our calculators, based on information input by the member who posted.