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Updated over 5 years ago,
[Calc Review] Help me analyze this deal
My friends in Chicago call me 'no walls Paul' because I purchased this property 17 years ago, had the ambition to flip it, but got very distracted with other things that resulted in this property not getting finished.
I currently live in Florida, I've used the property as an office for my company for a while, but recently have asked the employees to move out so I could more easily sell it. However, because the property is unfinished, it has been difficult to at a price point that helps me get out of my 95K mortgage on the property.
I've run a BRRRR report on the property putting in the 95K that I owe on the property, and the 25K or so that is needed to fix it up to make it rentable. The resulting COC ROI is INF% which seems good, but I somehow think I'm missing something. If I currently owe 95K on this property, but 25K into it to get it rentable, then refinance to pull the money back out, how can I evaluate my COC return?
Any advice would be greatly appreciated!