Tenants dont care about your spreadsheet

Perfection can kill you if you are not careful. 

Long and short of it: Be careful!

Be careful with any of them though, ALWAYS ask for references.

The closing costs for FHA are out of this world so I wanted to go conventional for a few reasons Smoother closeI know I can qualify for the mortgage amount if I can burrow money to put down and eventually give back of course :)Stronger deal than FHA ___________________Rents $2495Unit 1- $895Unit 2- $750Unit 3- Vacant Unit 4- $850Expenses Property Taxes : $245/moInsurance : $227/moVacancy : 5% (extremely strong rental area)PM: 7% ($171.50)Lawn care: $50/moReserves : $100/moCap ex: $100/MO (very well taken care of stainless steel throughout, roof 5 years old, new paint, HVAC 5-6 years old)Expenses $893.50(Income) Rent - expenses =  (NOI) $1476.75Mortgage- $969 (With bridge loan or other burrowed money 30% down (87k) 70%LTVNOI - Mortgage = Cashflow ($507.50)Bridge loan payment - $580/MO87k at 8% 2-3 year balloon -$72.51 cashflow with (bridge loan)$507.59 cashflow without bridge loanKeep in mind I did this for only 3 units, I will be owner occupying this property or should I not?!

Take care :)

I have bought CFD’s before where you know what they paid and they were making a killing on it and honestly, I didn’t care because my projected returns were also above 30% which exceeded my requirements for acquisition.

When they ask for more you then hit your final number.You never go above your predetermined set price and you never care what they need to make a deal work.

Some folks could care less about this and think it would never happen, and other folks strongly suggest to never do this.

Take care