All Forum Posts by: Tony Nguyen

Please evaluate and lend opinions

Foreclosure REO

Bank asking for $135k

2 Unit 4br/2b 1,687sq ft

Comps are low 150s high 180s

So plugins in the numbers

Prop price $135k

Looking to putting in $10k (using a hard money lender if possible)

rent around the area goes low $1200 to high $1450

So i went with $1200 to be conservative on my numbers

So here are the numbers ( please evaluate and give guidance if any)

Property price $130k

Cash on close $10k

Rent for 2 units $2400 ($1200 per unit)

Prop tax $166

Insur $100

Mortgage(30yr fixed at 5%) $724

Propt manager $240

Hoa $0

VACA (10%) $240

Capex/repair (10%) $240

Total expense $1710

$2400-$1710= $694 cash flow

Cap rate= 12.5%

Coc return = 82,8%

So my question is is this a good deal? Is hard money/private money lender a better option to buy or does anyone have any other advice on this?

And should approach this plan as is to a lender or there need to be more tweeks?

Thank you ahead of time

Please evaluate and lend opinions

Foreclosure REO

Bank asking for $135k

2 Unit 4br/2b 1,687sq ft

Comps are low 150s high 180s

So plugins in the numbers

Prop price $135k

Looking to putting in $10k (using a hard money lender if possible)

rent around the area goes low $1200 to high $1450

So i went with $1200 to be conservative on my numbers

So here are the numbers ( please evaluate and give guidance if any)

Property price $130k

Cash on close $10k

Rent for 2 units $2400 ($1200 per unit)

Prop tax $166

Insur $100

Mortgage(30yr fixed at 5%) $724

Propt manager $240

Hoa $0

VACA (10%) $240

Capex/repair (10%) $240

Total expense $1710

$2400-$1710= $694 cash flow

Cap rate= 12.5%

Coc return = 82,8%

So my question is is this a good deal? Is hard money/private money lender a better option to buy or does anyone have any other advice on this?

And should approach this plan as is to a lender or there need to be more tweeks?

Thank you ahead of time

yes that is correct and I incorporate all the expenses and for capex, I esitmated 10% for repairs being safe with a margin percentage. I can save 5% towards repair and 5% for capex. But everything else is calculated in. The property was newly renovated. However, that doesnt mean there is not something wrong!

Yes i would see more cash flow if the other side is rented. Just wanted to gove conservative numbers! As for financing it, I am not sure which route is best. This is probably where some

Mentorship comes in. The property is a foreclosure 

73 is i was going off just the one incomes unit of $1850.

Mortgage with a 10k down payment on a 30yr loan would be 750-800m the house had been rehabbed but there can be some minor adds that can be done

Flood insurance will be $2112 annually

Good day all and i am new to the biggerpockets forum! Here for more education/confidence/and most important mentorship.

So i found this deal and i would like some evaluations on the season investors to let me know if this is a good deal.

4br 2 br 1,825sq Duplex foreclosure w/ a purchase price of $105k

Both sides newly renovated

One side is occupied with montly rent of $1850 and the other side vacant.

The home is next to a creek. So it will need flood/hazards/landscaping

The comps around the area are in the high 180s.

Ran the numbers if it was just going the one occuppant with all the insurance and a down payment of $10k

Cash flow is low - $73/m but that is based off one occupant @ $1850/m

Cap rate is around 9.6%

And COC is around 8.7%

If the other is rented out then number change but trying to be conservative.

Is this a good deal or bad?

What is a good percentage to margin?