Offlinewholesale deal with good spread for a flip or buy & hold.
735k arv conservative
580k pp including my fee
30k rehab cost est from contractor
the fromt house is a 2/1 1,300 sqft.
garage has been converted with permits into a rec room with a 1/1 about 400sqft. total sqft including both is 1,600
also there is a 1/1 bath attached to the main house built without permits. any questions email me at [email protected] or call me at 562-536-1307
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Does each house rent for $3000 a month? Otherwise how do I cash flow a $580,000 duplex?
Thanks,
Michael
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
they don't rent out for 3k each. front house is $16500 garage $850 third unit $850 total $3,300. All my buy and hold buyers pay cash and with the equity in the deal they refi, cash out just enough where the tenants pay the mortgage and the still have positive cash flow and go buy more properties.
they don't rent out for 3k each. front house is $16500 garage $850 third unit $850 total $3,300. All my buy and hold buyers pay cash and with the equity in the deal they refi, cash out just enough where the tenants pay the mortgage and the still have positive cash flow and go buy more properties.
they don't rent out for 3k each. front house is $16500 garage $850 third unit $850 total $3,300. All my buy and hold buyers pay cash and with the equity in the deal they refi, cash out just enough where the tenants pay the mortgage and the still have positive cash flow and go buy more properties.
What is the mortgage payment on a $585,000 refi? 10 yr, 15r or 30 yr? Good luck on this deal, hope you get it sold.
Michael
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
$3350/mo Gross
$1340/mo Expenses (40%)
$2010/mo Available for debt service
$374,500 @ 5% 30 years breaks even
Figuring above loan terms with 30% expenses,
it will break even with a $437,000 loan.
LOL I can get this for my buy and hold buyers for like $260k...Don't mean to laugh...well, maybe...Good luck on this...hope it works out for you...