OfflineOk DG Fam my partner suggested we post this so here goes:)
2 unit building
Purchase price: $75,000
Rehab Cost: $20,000
ARV: $160,000
Each unit will rent for $750 to $800
Taxes: $2,577
Insurance: $1,200
Our exit strat: Purchase with HML for a total of $95,000 14% interest only payment and 5 to 10 points up front.
As soon as rehab is done no seasoning refi at 4.75% interest for a total of $118,000.
Expenses:
Purchase:
$75,000 PP
$20,000 Rehab
$2,250 Closing costs
$14,020 Points and fees for HML
$400 Inspection
$400 Appraisal
$200 Utilities
Refi:
$118,000 Refi amount
$3,360 Closing costs
$400 Appraisal fee
Do you think this would be a good deal?
When you say thank you, you are telling the world that you want more. Say thank you every day! It will bring joy, and it will bring so much more.
would love some feedback
When you say thank you, you are telling the world that you want more. Say thank you every day! It will bring joy, and it will bring so much more.
www.virtue-investments.com