Updated over 9 years ago on . Most recent reply
Need Advice
BP community I am looking for some assistance.
I am in the process of negotiating the purchase of 2 duplex in FL. I can purchase the 2 properties for $380,000 and the comps are between 400 and 415K. I am looking for for a creative way to purchase these properties. I have ran the number and got the below results.
| Total Cash Needed By Borrower: | $76,000.00 |
| Monthly Income: $4,400.00 | Monthly Expenses: $3,268.14 | Monthly Cashflow: $1,131.86 | Pro Forma Cap Rate: 8.40% |
| NOI: $34,871.00 | Total Cash Needed: $76,000.00 | Cash on Cash ROI: 17.87% | Purchase Cap Rate: 9.18% |
| Total operating expenses: | Mortgage expenses: | ||
| Vacancy: | $132.00 | Repairs: | $132.00 |
| CapEx: | $132.00 | Insurance: | $420.00 |
| Management: | $132.00 | P&I: | $1,774.06 |
| Property Taxes: | $446.08 | Lawn mowing: | $100.00 |