ARV – $125k – $135k
Market rent: $900-1000
Loan for $72,000 at @10% interest-only payments of $600/mo for 6 months. Loan includes acquisition costs and rehab costs.
Exit strategy is to sell on MLS for retail for ~$125K
Loan to Value (LTV): 58%
*Under Contract* – Closing in less than 30 days
Brand new ceramic tiles throughout the kitchen and bathrooms. Bathrooms are updated (2 brand new smart toilets)
All new hardwood floors in other common areas. House is 1300 sq ft with a screened in porch on the back with a fan
There is an additional 650 sq ft attached to the main frame of the house that are two big rooms. 1 upstairs, 1 downstairs. This mini pad is unfinished. (Used as storage right now)
Will replace roof and remaining repairs are cosmetic which involve mostly clearing out leftover personal possessions, touch up paint, and retail cleaning.