All Forum Posts by: Bode Adeyi

@Brent Coombs Thanks for the input, this deal is actually not being analyzed for a flipper, it's a rental where the investor/end buyer will require a lender. I analyzed the deal for a 10% cash on cash and 5000 wholesaler fee to see what the MAO may look like.

@Rivy S. Makes absolutely sense, I totally missed the purchase price value. Did down payment then goes to the bank/lender that finances the loan?

Thanks,

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Greetings,

I understand this rental analyses quite well but I just cant seem to wrap my head around where "Down payment"  fees of $2, 962.53 comes from or apply! How is this value computed? Why do I care about the value when I know my ARV, how much loan I'm being offered and how much needs to come off my pocket to be able to close the deal (provided all goes as analysed).

Thanks,

@Brandon L.  Wow! Thank you very much for the links, they are indeed actionable plans and I will certainly follow through as advised. 

And to answer your question, yes, I am currently renting the home I live in now, while the lease expires mid next year, I will be looking to purchase what may be my first investment property with a possibility to "house hack" a multi- family unit.

@Lexi Teifke Thank you very much, highly appreciated!

A little background about myself, I am an engineer for an aerospace company in CT. During my "spare time", I enjoy playing/ watching soccer, kick boxing, traveling and reading books. Like many of you, my aspiration to be an entrepreneur was fired up by Robert Kiyosaki "Rich Dad, Poor Dad", I have never looked back ever since! At the moment, my primary real estate goal is  to wholesale and buy/hold rental properties. My favorite part about the real estate community is meeting different people from all works of life and hearing their absolutely beautiful stories. I look forward to this journey with you.

Cheers!