4bed 2 bath 0 garage-2/3 of the rehab is done
Sale Price $135,000-Value $160,000
Carrying Costs:
$135,000 x 7% interest = $9,450 + $3,550 Taxes and Misc = $13,000
$1,083 per month mortgage
$1,300-$1,500 per month rental income = $217-$417 monthly positive cash flow
This property is nearing completion and will be ready for sale in mid January.
Buyer will need 20% down, however, that money can be refunded through a special program.
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