Updated about 7 years ago on . Most recent reply
Help Me Analyze this Deal - Baltimore, MD
Hi BP!
Short Sale in Baltimore, MD. Acquiring with Conventional Loan 20% down. Only two Comps of same bed/bath and similar (within 200 sq ft) size within the last 30 days. Best comp (of the 2) last sold at 65K. $62K is absolutely fair and at market value.
I'm in a financial position and happy with purchasing a cash flowing property at market value.
My initial criteria: $200 + monthly cash flow & 8% CoC ROI. deal passes as is.
Conservative numbers:
- Interest Rate 6%. (5.6 currently)
- Rent Amount: 1200 (as is without rehab. PM states she can get it for higher)
- Cap X & Repairs at 10% each
- 8K Rehab to get rent ready
If you'd like to see specifics, You'll see below images provide #'s. Spreadsheet is a build in progress as I continue to learn and analyze more deals.
I submitted an offer long before I knew how to inspect a property so I don't have notes from when I visited months ago. You'll see a vague guess-timate of rehab costs.
Still growing a learning as a newer investor. Could you please provide feedback and help me understand areas in which I should focus.