@John kelly I can't tell if this is a SFH or a duplex or what, you don't give enough info. I'm going to assume it's a SFH investment property, meaning to get a loan you're going to need at a minimum a 15% downpayment or $93,750 which brings your total cash needed to $103,750. Additionally, you didn't budget anything for CapX (10%), repairs (at least 5%) or vacancy (8%). That's a total of 23% of rents each month withheld in addition to what you already budgeted, which equates to $1,167.25 in additional monthly expenses. At a zero downpayment that means this property doesn't cash flow, which means that if you make a downpayment and it does cashflow all you are doing is buying cashflow. Overall, at that price not a great investment IMO.
hey guys so i have an updated analysis here. basically what we have here is a NMD deal through a VA loan. im currently under contract with the building. inspection was completed where we found we need a new roof, recieved 13,000 credit. although after going much more in depth with this property i am starting to get cold feet and worried about these numbers. i will be moving on from my current 3 unit into this one, as it wont cash-flow with me under the roof is not a big deal, it not cash flowing after i move onto the next one has me pulling my hair out trying to alter these numbers to make this property work. see link below
@John Kelly Okay that makes more sense, when you post a "help me analyze this deal" it's always a good idea to give background like "using a NMD deal through a VA loan."
I couldn't look at your new numbers because the link you posted doesn't work, but if you're scrapping the bottom of the cash-flow barrel here or not even cash-flowing at all really no matter how you work the numbers then you are paying too much for the property to be worth it and it's time to either 1) get the seller to lower the price till the numbers make sense, or 2) move on to another property.