Running the Numbers

[Gabriel Lamb]

Hello all! PLEASE critique my financing strategy. All feedback welcome! 😁

Available Financing: 75k Savings and 150k Heloc

Property for sale - 400k

Bought for - 325k

Closing costs - 10k

Rehab - 30k

Refinance costs - 10k

All in for 375k

Property ARV - 500k

Heloc used for:

Down payment - 80k; 245k loan

Closing costs - 10k

Cash used for:

Rehab - 30k

Refinance costs - 10k

Refinance 500k property for 75% LTV

Payback 245k loan and recoup my 130k cash.

Rents

Triplex 1500/unit

Total 4500

Expenses

Mortgage - 2100

Landscape - 100

Taxes - 450

Insurance - 50

Property management 10% - 450

Capex/repairs 10% - 450

Vacancy 5% - 225

Total 3825

Cashflow 675

Would you do anything different?

Did I miss an expense or cost?

Thank you!