I think there's a problem with the calculation of "total cash needed at closing" because this resulting value seems waaay too high. Of course I could have easily flubbed the numbers on the input side... Please help!
*This link comes directly from our calculators, based on information input by the member who posted.
Hey @Greg Moran Are you getting a bank loan on the initial purchase or a hard money? Having not performed my first BRRRR I'm not sure what more experienced investors look for in terms of numbers prior to the refinance. Even if you take your repairs or capex up to 10% you're looking around that $100/month and 15%+ Cash on cash ROI. Just my two cents! Happy Hunting! Good luck!
The problem is the property will not sell to buyers 50% assessed value. Please bid realistically so you can get the property. Once the price is reasonable we can help you with the rest.
@Sam Shueh , this property was already aquired at foreclosure auction. My partner has the contact and 15 days to close. No issues there...
@Junior Salters , I'm putting up the private money for the initial auction purchase.