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Real Estate Deal Analysis & Advice

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Jordan Puffer
  • Grand Rapids, MI
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26
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Excited About Our First BRRRR Deal

Jordan Puffer
  • Grand Rapids, MI
Posted Sep 11 2017, 19:09
Hey everyone! My wife and I are closing on our first buy & hold on the 18th of this month! The numbers look good: Location: Broadway House Number of Units: 1 Rent: $1,350.00 Square Feet: 1,666 Upfront Costs: Cost per Unit $95,000.00 Price: $80,000.00 Cost per Square Foot: $57.02 Cap Improvements & Repairs: $15,000.00 Cash on Cash Return: 19.84% Total: $95,000.00 Debt Coverage: [minimum 1.6] 1.78 20% Down: $19,000.00 Capitalization Rate (ROI) 9.05% Current Assessed Value: $29,666.00 Loan Amount: $76,000.00 Net Cash Flow per month: $314.08 Interest: 4.88% Net Cash Flow per month per unit: $314.08 Term (yrs): 30 Total Rent/Month: $1,350 GROSS SCHEDULED RENTAL INCOME: $16,200.00 Less: Total Annual Debt Service: $(4,826.40) Less: Operating Expenses: $(6,470.63) Less: Vacancy and Credit Losses (7%): $(1,134.00) NET CASH FLOW: 3,769 NET OPERATING INCOME - (NOI): 8,595 INTEREST: 3,680 DEPRECIATION: 3,455 NET INCOME: 1,461 Property Insurance: $1,000.00 Property Management (10%): $1,620.00 Placement Fee (30%): $405.00 Real Estate Taxes (5.06179%) $1,501.63 Repairs and Maintenance (12%) $1,944.00 Services: Snow Removal: 720 Utilities: Electricity: N/A Gas and Oil: N/A Sewer and Water: $30.00/mo Other

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