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[Calc Review] Help me analyze this deal

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  • Posts 22
  • Votes 2

Wayne Warren

posted about 2 years ago

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*This link comes directly from our calculators, based on information input by the member who posted.

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  • Posts 4.9K
  • Votes 2.4K

Jaysen Medhurst
Rental Property Investor from Greenwich, CT

replied about 2 years ago

@Wayne Warren , a few things that I think you should adjust:

  1. You'll likely need at least a 6-month seasoning period before you can refi with a new appraisal.
  2. Since this is an investment property, your rate will likely be higher and the term shorter. You may get lucky with a local bank or credit union, though.
  3. Your Repairs/CapEx are too low, figure 15% of GSR combined.
  4. You're not accounting for insurance.
  5. Will you be responsible for any utilities? Sometimes water/sewer is difficult to bill back to the tenant.

As an investment, this isn't bad. Should be good cash flow and decent ROI. As a BRRRR it's not great, since you're leaving $30k in it. Ideally, you want to pick this up for $60-70k and get all (most) of your capital back out.

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  • Posts 22
  • Votes 2

Wayne Warren

replied about 2 years ago

Thanks for the insight and advice, Jaysen.  Much appreciated!!

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