I'm looking for a private money lender or partner to purchase this home. Owner is motivate to sell due to daughter requiring stem cell procedure.
The home is in great condition, requires updates of the baths and new paint. Basement is unfinished. All mechanical systems in good condition.
I have performed a BRRRR analysis, Rental analysis, and recent comps for review.
Monthly Income: $850.00 Monthly Expenses: $119 / $277 Monthly Cash Flow: $731 / $573
Pro Forma Cap Rate:14.62%
NOI: $8,774.00 Total Cash Needed: $30,500.00 Cash on Cash ROI: 28.8% / 57.3% Purchase Cap Rate: 43.87%
What is your ARV and repair costs?
What are the comps in that area?
The ARV is $60K
Comps range from $59-$64 with some surrounding areas showing solds as high as $125 plus. Baltimore is a block by block market.
Does the 30,500 include repairs? If not, how much for repairs? Also, can you explain why there are two numbers under Monthly Expenses and monthly cashflow? - Monthly Expenses: $119 / $277 Monthly Cash Flow: $731 / $573?
Thanks for the inquiry. The first set of numbers indicate the initial rental summary.
The second set of number is base on a refinance scenario .
$30,500 includes repair.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing