My First Deal
I've been working with a wholesaler in my area trying to analyze this deal, but I want someone to take a second look. Preferably someone with a few flips under their belt to see if I'm running these numbers right. I will be using a Hard Money Lender 70%ARV @ 14% interest. Please point out anything i might be missing very nervous for my first flip! Thank You so much I appreciate anyone help!
Profit Calculator Chart | |||
ARV | $160,000.00 | ARV | $160,000.00 |
Purchase Price | $96,000.00 | LTV | 70.00% |
Purchase Closing Cost | $2,000.00 | Cost | $138,320.00 |
4 pts | $5,320.00 | Down Payment | $26,320.00 |
Rehab | $35,000.00 | ||
Carrying Costs | $8,454.93 | ||
Utilities | $500.00 | ||
Prop. Insurance | $700.00 | | |
Prop. Tax | $800.00 | ||
Association Fees | |||
Interest | $6,454.93 | ||
Sale Closing Cost | $6,400.00 | ||
Title Insurance | $800.00 | ||
Recording Fee | $200.00 | ||
Closing Fee | $200.00 | ||
Buyers Closing Cost | $2,000.00 | ||
Commission 3% | $3,200.00 | ||
Total | $12,145.07 | ||
-Capital Gains Tax 35% | $4,250.77 | ||
Profit | $7,894.29 | ||
ROI | |||
Invested | $26,320.00 | ||
Profit | $7,894.29 | ||
Return | 29.99% |