2 July 2021 | 12 replies
I would like some input on this potential deal. 3/11100 sq. ft.Purchase price $75kRenovations $35k (Everything would be new: HVAC, roof, electric, plumbing, concrete patio and sidewalks, vinyl siding, fencing, kitchen cabinets, sink, faucet, new tub and tiled surround, vanity and LVP flooring, it also includes a stove, dishwasher, refrigerator, washer and dryer, so basically a new build).All in: $110kARV: $130kRefinance with $20k downLoan amount $90k @ 4.0 % for 30yrs = P.I. $430 + taxes and Insurance $150 = $605/month5% Vacancy $901% Cap Ex $20 (low because everything is new)1% Repairs and maintenance $20 (same as above)Straight rental.....$1,000/mo - $735 expenses/mo = $265 cash flowRenting to traveling nurses(2 hospitals in a small town)....
15 March 2020 | 14 replies
Here is the situation -The house already has a wet bar (with no dishwasher).