Updated over 8 years ago on . Most recent reply
Is this a Good Deal!
I have a deal that I think is a good deal. I have analyzed this deal already. 3br/2ba mobile home in Arizona, purchase price: $40,000, estimated repair cost:$0.00 (Home has already had all repairs done), ARV: $ (I didn't know how to come up with that amount since no repairs are needed)but I was thinking maybe $60,000, Monthly P&I: $246.05, Monthly Tenant Rent: $1,200, Landlord Monthly expense: $552.05, Monthly Cash Flow: $647.95, Cash on Cash ROI: 55.03%......Is this a good deal to buy & hold? If so whats my better choice with financing it Bank or Hard Money Lender? Help I don't want to lose this deal???
Most Popular Reply
Are you sure you have all expenses figured? They seem awfully low. $250 P&I, plus $240 reserves for vacancy, capex, and maint (roughly 20%) already put you at $490. What about pad fees (is it not in a park?)? Around me a decent park charges $500/month for the pad.