Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
4y
@Joshua Wieser After reviewing the report the Repairs, CapEx, and Insurance look way high in my opinion. If you drop $70K into a remodel the property shouldn't have issues. Also if you take $235k * .75 = $176K
That's roughly the max you'll be able to ReFi out of the property. Looks to me like a great deal because you would have little money stuck in the deal. Interest rates will be higher 6 months from now (no question) based on the discussion from the Feds lately but if it ticks the other aspects of REI I'd go for it.