practice analyzing deal # 6
| 1% rule = | desired rent | ||||||
| 89,900 | 0.01 | 899 | |||||
| Des Moines, IA 50316 | |||||||
| price | 89,900 | ||||||
| closing co | 2500 | ||||||
| monhrent | 1,200.00 | ||||||
| repairs | 5000 | ||||||
| total cost | 98600 | ||||||
| Loans | |||||||
| price | 89,900 | Down % | | |||||
| downpay | 3146.5 | 3.50% | FHA | ||||
| total loan | 86,754 | ||||||
| Money Needed = | $11,630 | ||||||
| MONTHLY ESPENSES | |||||||
| PAYMENT | $395 | ||||||
| tax | $130 | M insure | H insure | ||||
| insurance | $110 | 79 | 31 | ||||
| vacancy | 60 | 5% | |||||
| repairs | 84 | 7% | |||||
| management | 120 | 10% | |||||
| cap | 84 | 7.00% | |||||
| utilities | 0 | 0.00% | |||||
| TOTAL | $983 | ||||||
| EVALUATION | |||||||
| MONTHLY INCOME = | 217.00 | ||||||
| YEARLY CASH FLOW= | 2604 | ||||||
| CASH ON CASH = | 22% | 8%+ = good | 15%+ = amazing | ||||
| price for good cash on cash = | already good | ||||||
| for amazing cash on cash= | already amazing | ||||||
| if repairs exceed $30000 cash on cash less than good unless price drops |