Currently, I have the opportunity to acquire a few properties. The goal is to acquire, buy and hold for cash flow. Currently, we have $100K available for down payment. I also have a SFR free and clear that is valued around $60K.
Would this be a great deal to present to the private lender or does it need some adjustments.
Loan Request of $325K (acq/rehab/close/holding)
Term 60 months
Annual Debt Service $42,300 I/O
OE $31,500 (Ins/Taxes/Maint./Reserv/Mang.)
Annual Net Income $58,500
Thanks in advance to any one that responds. :banghead