All Forum Posts by: Joshua Shull

@Ned Carey Apologies! Hopefully this is everything.

P&I - 910

PMI - 90

Total monthly financing: 1000

Taxes - 290

HOA- 20

Insurance - 85

Vacancy(2%) - 35

Routine Maintenance - 35

Advertising - 15

Total Monthly operating expenses: 480

@Jaysen Medhurst maybe my ARV is too generous. I adjusted from 330K to 300k, here are the new numbers.

Offer price: 200k

Down payment: 20K

Rehab: 30k

Total cash in: 50k

ARV: 300k

Rent: 1800

NOI: 1320

Pretax Cash Flow: 620

Net cash flow: 330

Cap rate: 5.25%

COC Return: 16%

Getting ready to put my first offer in for a 3 bed 1 bath C SFH in a B/B+ neighborhood. My spouse and investment partner are getting cold feet (probably just nerves with the first deal). I've run my own numbers and after rehab the Cap rate is around 5% and cash on cash return around 15%, with net cash flow of $300 per month.

I’m looking for confirmation that I’m not crazy and this is a rational deal (sure it’s not amazing, but decent).

So, am I crazy? Is this a good deal? Should I look at other numbers? What do you think?

Newbie here with my first question/post!

My primary residence has a mortgage and home equity loan. I have rehabbed much of the home and it is now worth more.

I’d like to refinance to pull the equity out to help finance a future deal.

Looking for ideas on the best way to do this. Should I get a whole new mortgage and home equity loan? Is there a way to re-up the existing home equity loan?

Just trying to get a feel for what the options even are, and how to avoid new transaction costs.

Thanks for the ideas/input!