For simple math of our area distressed properties going for 75k-150k.

For simple math of our area distressed properties going for 75k-150k.

Purchase price $140,000,
5% down= $7000
$133,000 amor. over 30 years @3.75% with a balloon at ten years.
Monthly payment @615.94 for 120 months is  $73912.80
What would the ballon payment be?    59087.20????

His math is off, just do it yourself.

I can't figure out the math to find out what it would do to our mortgage payment and what we could walk away with.

My suspicion is that people do not accurately do the math on cost of renting a unit with utilities included vs not included and the higher sticker price would be a disadvantage in an area where utilities are not usually included.That's just my line of thought.

Just do your homework and make sure it's a good deal that will rent for the right amount.

HML should know the math extremely well = ARV HML would never loan you.

If we can pull a great team together out of state and we do our homework, I have faith it could work out.

Even at the confiscatory rates they charge, which can typically be 10% plus a few points, if you do the math you’ll find you’ll pay about a quarter to a third of your profit to the HML.