Potential Memphis BRRRR Deal Thoughts?

[Keleisha Carter]

Hi Everyone, 

Looking for feedback on this deal analysis. Property is listed on the MLS for $90,000; Will be using hard money for this deal where the rate is 12% and 2 points. Potential rent is $850 (based on rentometer info). I have the following questions:

1. Do you think that the hard money money rate is average in the area?

2. I have over $30,000 invested in the deal after I refinance, is there any relation to to the total project cost and the ARV

3. Suggestions on how to make this a good deal 

All feedback is welcome :) Thanks !

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

[Allan Smith]

Best way to make a good deal is to find one. I would skip this one and go find a good deal that's not on the MLS or if it is has a big value add opportunity. That's not a good deal for Memphis.