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Updated almost 6 years ago,
[Calc Review] Help me analyze this deal
Hello all. This is a property I'm looking to implement a BRRRR strategy with in Chicago. It's a 2 flat that is in need of a gut rehab. I've listed the asking price and have run my own comps to helps determine ARV. Specific questions I have are:
1) I'm a little bit confused as to the "total cash outlay". I can't figure out how the calculator gets to that number. From what I can tell, with the interest only loan, 10% down, and closing costs, I don't get anywhere near the 140k or so the calculator is showing.
2) I'm not sure where on the report I can look to determine how much I'm gaining/losing after the refinance. I'd like to have an idea as to whether or not I'm going to make or lose money after the refinance, and if so, how much. I've watched some BP videos with the calculator but Brandon Turner seems to use a different version (maybe earlier version).
3) General thoughts as to the "goodness" of this deal, or not. I know this is subjective.
Thanks so much for any help!
*This link comes directly from our calculators, based on information input by the member who posted.