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Updated over 9 years ago on . Most recent reply

User Stats

398
Posts
156
Votes
Jamal L.
  • Investor
  • Baltimore, MD
156
Votes |
398
Posts

Whats next? The numbers make sense and the cap rate is reasonable

Jamal L.
  • Investor
  • Baltimore, MD
Posted

Hello BP fam. 

I have analyzed a deal from the front, back, north and south and the numbers make total  sense. Now in your Professional and Experienced opinion, how does one go about getting this deal funded? Im only looking to put down 3.5% closing cost and my credit is good around 700. However I can only produce about 20k on paper. 

 I will list the details below. If I forgot to add any thing please enlighten me to it. How would get this deal funded if this were you scenario?

State Property Assessment 189,400

Arv 200,000

purchase price 59k

closing 3.5

total rehab  100k

rehab and acquisition 162.5k

4 unit property, 6bd 4bth 3,232 sqft

monthly income  $2,900   annual $34,800

monthly expenses $2,060 annual $24,720

NOI $21,258

cap rate 11.88%

taxes 4,470

Total operating expenses:Mortgage expenses:
Vacancy:$174.00Repairs:$116.00
CapEx:$29.00Electricity:$75.00
Water:$50.00Insurance:$80.00
Management:$232.00P&I:$932.08
Property Taxes: 372.5

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