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Updated almost 4 years ago on . Most recent reply

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7
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Jeff Krasowski
  • Chicago, IL
0
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7
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[Calc Review] Help me analyze my first deal - TIA!

Jeff Krasowski
  • Chicago, IL
Posted

View report

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

Most Popular Reply

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3,768
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Evan Polaski
#3 Rehabbing & House Flipping Contributor
  • Cincinnati, OH
3,431
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3,768
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Evan Polaski
#3 Rehabbing & House Flipping Contributor
  • Cincinnati, OH
Replied

@Jeff Krasowski, do you have any questions about this deal?  

Your vacancy is probably fine, your repairs and Capex are probably dramatically too low, but this also appears to be a condo, so most of your Capex may be handled in the HOA. Otherwise I would budget 10% for each, minimum.

Have you called your lender to get a real quote on a mortgage? Less than 20% down typically entails PMI, which does not seem to accounted for.

Have you called an insurance agent for a quote?  $5/mo is too low.  $100/mo is more average, but call an agent to get a quote.

Have you calculated real estate taxes for this property at your purchase price?  In Hamilton county, OH your number is very low, but you can pull this online with a little research.

  • Evan Polaski
  • [email protected]
  • 513-638-9799
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