Here’s the situation…
Going through a hard money lender & buying from a wholesaler (the same company)…here are the numbers
2 BR/1Bath, 1 car, full unfinished basement –keeping as a rental ($900-$950 per month)
$5210 +/- for fee’s and holds
$25,000+/- rehab (hoping less as I will be doing most of the work myself)
$100,160+/- total investment
They have an ARV bank appraisal for $123,000
When I finish rehab and refinance, I’ll refinance for around $110,000, which with taxes, insurance, and payment (30 year) will be around $750 per month.
I’m trying to think long term not short term.