Rental Property Investor · Augusta, GA · Member since 2017 · 825 posts · 278 votes
8y
Hi, Without knowing about the property, it is very hard to tell. A few things to consider: if it is a multifamily, you might want to look at your financing options. My local banks amortize commercial loans over 15 years, not 30, and that makes a big difference. You'll also want to find out the actual tax and insurance expenses. It looks like you have that at the top , but not the bottom, and that throws off your projections. Good luck!
How are you financing the acquisition? What kind of loan? Is the rest cash?
What is the Refinance loan? 0% Interest?
What type Multi Family property is it? What are you basing your $90K Rehab estimate on? I’m pretty sure that big of a budget will take longer than 2 months.
Your tax and insurance numbers are way off. I can’t imagine it’s $1,000 per month for taxes.
What is your goal with this deal? You planning to leave $68K cash in the property?