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Updated almost 6 years ago on . Most recent reply

User Stats

124
Posts
50
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Adam Scheetz
  • Rental Property Investor
  • Staten Island, NY
50
Votes |
124
Posts

[Calc Review] This Deal looks SOLID, but you decide!

Adam Scheetz
  • Rental Property Investor
  • Staten Island, NY
Posted

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Quick Synopsis in addition to the linked report.

  1. SFH. 3/2. 1388 sq.ft. Great community. Good clean neighborhood. REO.
  2. Asking $89,000
  3. Rent $1600-1700
  4. ARV: $195,000- $210,000 Conservative Estimate.
  5. Estimated Rehab: $50,000
  6. Taxes: $5150
  7. Insurance: Conservatively-$125/mth
  8. Built in 1995 so E&P are solid. 
  9. Needs rehab, not a full gut, but moderate rehab to Drywall, floors, kitchen and possibly bathrooms also.
  10. Nice neighborhood plot, middle income area, well kept homes

I'm looking at a renovation loan through an experienced and trusted lender who is very familiar with 203k/FNMA Home Style Renovation/Etc loans.

This area is expected to appreciate someone in the ball park of 4-7% this year with the influx of some new job growth drivers and attractions that are bringing people in. 

Please let me know what you think.

Most Popular Reply

User Stats

124
Posts
50
Votes
Adam Scheetz
  • Rental Property Investor
  • Staten Island, NY
50
Votes |
124
Posts
Adam Scheetz
  • Rental Property Investor
  • Staten Island, NY
Replied

@Tchaka Owen that's what I was thinking. I liking having multiple exit options. Shoot for a B&H, especially if I can get the numbers to go down through good fortune and skillful planning. Even a low ARV would still leave enough equity to make a flip a solid option. Might consider partnering if I flip for the added benefit of smaller exposure and increased networking. Options are always good. Thanks Tchaka for the feedback.

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