Opinion approved Hard Money loan

[John Silva]

Hi, would like BP feedback on a hard money approved loan. The numbers are based on a specific property. 

Interest rate: 6.75%, Mth pymt P&I: $778.32, $2k orig. fee, $1k service fee, $360.00 pro rated interest. With the downpayment of 25% total out of pocket $43.3k. Not including title, appraisal or property insurance. There is three mth upfront payment for Covid 19 = $2,334.96 in escrow which will be used for the 1st three payments then I start paying. All said in done $52k out of pocket. PP $160K, ARV $235K, rent $800, second floor needs $8k work before to rent. That will take 3 months for work and tenant. Gross rent month 5 $1500.00.

What do you think? all comments are welcomed. 

Thank you.