[Calc Review] Help me analyze this deal
*This link comes directly from our calculators, based on information input by the member who posted.
The asking price is $220,000 (actually it is paired with another house and the total asking price is $440,000 (renters are in both)). 70% loan on $220K using BRRR = $161,000. Minus $30,000 rehab = offer of $131,000. Using the BRRR calculator. Looking at the numbers, trying to make things work. It is currently occupied by a renter who pays $1,550. At that rent, assuming my other numbers are reasonable, this deal doesn't work. I would have to raise the rent and I would think they wouldn't allow that. Agree? Can you think of a way this deal would work at the current rent? Thanks for your kind help.
"Holding Costs" - there is no definition of them anywhere on the calculator that I can find. Can someone define those for me?
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