Updated almost 6 years ago on . Most recent reply
First Find! Need second pair of eyes!
Hi All,
I think I have found a single family in San Antonio but I want to verify I am not screwing up the numbers.
The house was built in 1935 is 1250sqft, 3/1 detached garage(needs to be torn down/replaced). Exterior seems in good condition but needs paints. Interior still in question as I have not seen it yet.
I think I can get this for $30k cash out right and as of now I am estimating $30k rehab cost(SWAG). Estimated ARV is about $155K and estimated rental is $1100
What I am unsure about is when going to finance to get cash out, are there rules on how much to cash out? ie, $60k+costs(what I am in if for) leaving a higher monthly cashflow or the 75% LTV with a much lower monthly cashflow?
Does this seem like a good deal? Am I missing anything?