Rental Property Investor · Austin, TX · Member since 2015 · 280 posts · 176 votes
8y
@Dave P. you may want to check your ARV. Per the report, it is only $250k. Also, I do not see an expense item for property insurance. Finally, will you be living in this property? Because, if not, I'd love to learn how you are able to get a loan on this quad with just 3.5% down! If you will be living there, you should adjust your monthly gross income to reflect that. Be sure to underwrite the rents to market. I use rentometer.com
Rental Property Investor · MA · Member since 2016 · 58 posts · 14 votes
8y
Hi Larry,
I did change the ARV to closer to the actual selling price. If I buy this property, it would be using a FHA loan with 3.5 percent down. I will be living there. I also adjusted the monthly gross income. I will add insurance too. Thanks for the feedback!