Updated over 7 years ago on . Most recent reply
Help Analyzing My First Buy & Hold
Hello guys. I've bought my first property as a FHA live-in flip in 2016, but after being 80% done I'm starting to change my mind on whether I should sell it. Especially since I don't have anywhere else to live. So I was looking around at properties in my area and found a duplex. I wanted to see what people with more experience think about this analysis of the property.
Both units are occupied and are renting at $750.
The seller is asking for $115,000 but I was going to offer $110,000
I haven't seen the inside of the house, but since the house is fully occupied I wasn't going to do any repairs on the place yet.
Down Payment: $23,000
My analysis says: $1,500.00 MONTHLY INCOME
$847.15 MONTHLY EXPENSES
$652.85 MONTHLY CASHFLOW
11.51% PRO FORMA CAP
$13,233.00 NOI
30.13% CASH ON CASH ROI
11.51% PURCHASE CAP RATE
Do these numbers make sense or am I missing something vital. Every time I do an analysis I feel like I'm wrong so I don't pull the trigger. I think I've been having analysis paralysis. Any help will be appreciated.
Most Popular Reply
Would you mind breaking out your expenses into PITI, vacancy, capital expenditures, etc. to see if there's anything that might be missing? Just curious how you landed on $847.15.