Investors: Thoughts on this Miami, FL 4-unit deal!? My goal is to BRRR in year 1-2.

[Sebastian Giraldo]

The property is located in North Miami, FL. I'd say it is a solid B class location 5 min driving to home depot, whole foods, publix, LA Fitness. 12 min driving to Surfside beach and Bal Harbor. 

Sales price: $900,000

Seller finance: $400,000 / 2 year ballon / 7% interest rate / interest only monthly payment: $2,333 / no pre-payment fee

Estimated monthly income: $9,300 / Annual: $111,600

Electric separated - water $450 per month

Property taxes: $16,700 (with property value assessed)

Property Insurance: $6,300

Renovation Repairs $150,000

I anticipate the Re-fi appraisal to come in at a conservative $1,150,000. 

What do you fellow BP investors think about this one? 

[Luis Maqueira]

Seller finance 400k

Is low you need 500k plus cost to close. 

500k 20% I buy a 2.5M property...

Capital need it is to high, your cash on cash return is looking to low. 

Good luck,