All Forum Posts by: Gigi West

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Thank you in advance for your help.

Hi, I am new to RE world. 

I am confused about the calculations. Can someone help?

I am looking at a property for 130k, including the rehab, all cash hml loan, ARV will be 200k

Estimated rent is 1750

I would refinance after 12 months

So, my refinancing would be for 150k (75% of the ARV), correct?

Am I supposed to calculate two different calculations? Brrrr for the first part(purchase+rehab), and a separate calculation for the rental property numbers after the refinance?

Thank you in advance.

Thank you for your response. I had looked into the seller financing but it's not an option. I kind of agree, I don't have enough cash for hml but I need to make this deal happen. I am going to see if I can find financing partner.

Per my calculations it exceeds 1% test and that's why I thought it's a good deal.

Thanks for your input.

Need help with creative financing -

I have a property that I am interested in buying for the rental units. However, the price is above my range. I need advise on how to do this deal with creative financing. I have about 50k to invest, I have an excellent credit score.

Property is listed for $400k(Town assessment is 400k), owner is willing to negotiate if it's a cash offer. The property is in really poor condition.

Rehab cost is about $200k(4 units, rehab estimate is around 50k per unit)

Rent estimate is about $1900X4= $7600

Any suggestions on how to do this with creative financing would be greatly appreciated. TIA.