@Drew Darlington - are you trying to wholesale this deal? Or are you asking for advice on whether you should buy it?
Sorry for the confusion but I’m looking more to wholesale the property to anyone interested
This is the one on 691 E. Zuni? The one that's currently on the MLS?
Are you trying to wholesale it at the full 340k price? Or do you have an agreement with the seller for less? Just trying to put together why you would spend your valuable time trying to wholesale a property that is active on the MLS?
I know I'm going to appear a bit insensitive, but a very simple analysis is going to show that with a 272k note and 2100 in rental income (assuming the current owner occupied unit is at least as nice as the renovated, rented unit and can be rented for 1050 as well), you aren't making out very well (I anticipate negative cashflow, depending on the conservancy of your analysis), especially since you had to put down 68k + closing costs. You have a CoC return of less than 3%. Blah.
2100/340000 = .617% (monthly rent divided by purchase price). This is terrible for Flagstaff. I am 2 weeks away from closing on a duplex that will hit 1% after 6-8k in rehab!
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