[Calc Review] Help me analyze this deal
*This link comes directly from our calculators, based on information input by the member who posted.
Hi BP Community,
I have a deal that I would appreciate help with analyzing. I think it will work pretty well as a BRRRR, but I'm not really sure that it makes good sense.
Some starter information you may want to know, this particular property is one that I submitted an offer on well before I even knew about BP. They rejected my offer with no counter offer saying that they would probably tear it down and build a garage in its place. I'm mostly just practicing right now since I'm still really green to all of this, so feel free to pick it apart. :)
What should the numbers look like in the rehab period and the initial rental period? If my number is 12% cash on cash, should I be working the deal until it's 12% in the rehab period, initial rental period, and the refinance period?
The cash flow is pretty low too. Ideally I'd like get closer to $200/month of cash flow, but in my area, $600-650/month of rent is about the maximum I can get. I'd appreciate any suggestions on how to improve that if you have any.
I wonder too if it would be prudent of me to analyze it through the flipping calculator too? Brandon talks a lot about how important it is to always have multiple exit strategies in the podcasts. On the other hand, with COVID-19 I could be stuck with it for longer than I could afford.
Anyway, thanks for the help,
Pete