All Forum Posts by: Ryan Pham

Is there a reliable way for to est income of a furnish / short term / airbnb  income

vs long time income ( I know this can be est looking at comparable posting in same area )

I have a 3 bed / 1 bath small townhome ( hoa approved ) I like to try to fully furnish and do airbnb / fully furnish rental

This unit is 1 mile from Banner Desert Medical Center ( traveling nurse ? )  Arizona

Arizona is a snow bird state, we have golf, baseball training, then a dead hot summer where nobody comes

how can I come up with some numbers before wasting time to look for furnitures and buying beds ?

thank you

https://www.loopnet.com/Listin...

2,441 SF Retail Building Phoenix, AZ $1,200,000 ($492/SF) 5.83% Cap Rate

1.2 mil

will banks lend on 25% ?  that is 300k down + closing cost

that leaves you borrowing 900k @ 4.5% ( possible ? ) 

I used a commercial calculator to calculate monthly payment for 30 year amortization and loan life of 20 year

this comes to $4,585.50 a month in P + I payment

cap rate of 5.83 gives us 69960 per year, other expense are taken care of since this is NNN lease

so 69960 - 4585.5 * 12 = 14934 / year in profit ,  which is  1.2k per month

did I go wrong anywhere in my calculation ?