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All Forum Posts by: Bobby Zandate

Bobby Zandate has started 1 posts and replied 2 times.

Creative Real Estate Financing

Post: 100% Cash purchase using HELOC

Bobby ZandatePosted
  • Investor
  • San Jose, CA
  • Posts 2
  • Votes 0
I apologize for the way the post was condensed...not sure why that happened.
0 Votes
Creative Real Estate Financing

Post: 100% Cash purchase using HELOC

Bobby ZandatePosted
  • Investor
  • San Jose, CA
  • Posts 2
  • Votes 0
Hello fellow BP Members...I'm hoping to get some opinions on this deal I'm interested in. Just a little background. I have a HELOC for $175k which I was planning on using for 100% of purchase price+closing costs+rehab. Here are the #'s... $49,900 asking price $42,000 purchase price INCOME Rent- $1200/month EXPENSES Taxes- $103/month INS- $30/month Vac- $84(7%) Repairs- $60(5%) CapEx- $60(5%) Prop Mgmt- $120(10%) Mortgage- $333(HELOC PMNT @5.75%/30YEARS) MONTHLY EXPENSES $790/MONTH CASH FLOW $410/MONTH $4920/YEAR COC ROI Purchase PrIce $42K ClosIng Costs $1680(4% of PP) Rehab- 15K Total Invested $58680.00 CoC ROI 8.384% TIA for takIng the time to look thIs over. -Bobby Z.
0 Votes