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Updated over 5 years ago on . Most recent reply

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Oz Ramos
  • Provo, UT
6
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15
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[Calc Review] Help me analyze this deal

Oz Ramos
  • Provo, UT
Posted

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

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@Oz Ramos very interesting reading. 3% interest loan with no down payment. No closing costs.Non owner occupied will be 20% and higher interest rate. 20k repair generates 250k in value. Refi you will have to bring an additional 57k to the closing table to pay down the loan to 33k. Your first mortgage is 90k.Utilities should be tenants responsibility. 2% vacancy is saying your tenant will live in the unit for over 4 years. I use 8%. Repairs of $27 per month is 1 repair per year. I use 5%. You have an HOA but what does it cover,It doesn't look like it is enough to cover roof replacement, looks like a special assessment coming up. My capex budget includes roof, floors, appliances and hot water heater, hvac and kitchen and bath remodel. I use a minimum of 10%. If the HOA has adequate reserves and cover exterior capex you could reduce it. Good luck on a 4% management, more like 10-12%. Insurance seems high, More likely $60 per month or less depending on if the HOA is responsible for some insurance.

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