Property Information   Expense Information  
Address: Canyon Lakes  
After Rehab Value: $170,000 Management Fee (%): 0.00%
Purchase Price: $150,000 Annual Maintenance:  $                              -  
Estimated Rehab costs: $0 Vacancy Rate: 0%
Seller Contribution:[1] $3,000.00 Pest Control  $                              -  
Base Costs[2] $147,000
Estimated spread after rehab $23,000 Refi Information  
Spread %:[3] 86.47%  
    Initial Purchase Price Rectangular Callout: The Amount of Cash Left Invested after Refi
 $                              -  
Yearly Taxes:[4] $4,500 Current Debt  $                              -  
Yearly HOA:[5] $650 Current Equity 0%
Yearly Rental Insurance:[6] $800 Target Equity 0%
Monthly Lease Amount:[7] $1,575 Equity Cash Out  $                              -  
Target Appreciation:[8] 50% Initial Investment  $                              -  
Target Sale Price: $255,000 Cash Invested After Refi $0.00
Financing Options   Prin.+Int. Int. Only Deferred Int.  
           
% Down Payment 0% $0 $0 $0  
1st Mortgage Amnt Rectangular Callout: The Second Mortgage amount is a line of credit secured by other real estate
 
$120,000 $120,000 $120,000  
Interest Rate   8.250% 8.250% 1.400% 7.90% <-- Annual Rate
Term (years)   30 10 40  
Monthly Payment   $901.52 $825.00 $326.64 $825.38
           
           
2nd Mortgage Amnt    $                 30,000.00  $                 30,000.00  $                   30,000.00  
Interest Rate   9.0000% 9.0000% 9.0000%  
Term          
Monthly Payment   $225.00 $225.00 $225.00  
Total Payment   $1,126.52 $1,050.00 $551.64  
Closing Costs Estimate---> Prin. + Int. Int. Only Deferred Int. Cash Purchase
Origination Fee %: Enter % 1.0% 1.0% 1.0%  
Origination Fees: Auto Fill $1,200 $1,200 $1,200  
Other Title Costs: Escrow fee, etc. $350 $350 $350 $350
Title Policy -Owner: includes mortgage policy if needed $225[9] $225[10] $225[11] $0
Doc & Closing Costs: depends on lender $1,250 $1,250 $1,250 $250
Mortgage Insurance: .7% Mtg if DP>10%, .9% Mtg if DP<10% $0.00 $0.00 $0.00  
Survey, Appraisal & Inspection:[12] 375, 400, 200 $775 [13] $775 [14] $775 [15] $375
Totals   $3,800 $3,800 $3,800 $975
[1]
Travis Foote:
Paid at closing
[2]
Defined as Purchase Price and Rehab Costs.
[3]
Defined as Base Costs divided by After Rehab Value.  Excludes variable costs such as borrowing costs, utilities, insurance, etc.
[4]
From Property Info.com
[5]
From PropertyInfo.com
[6]
@ 1.14% of Sale Price.  Must add flood insurance if in flood zone.
[7]
1% of After Rehab Value or based on comps.
[8]
Travis Foote:
Target Appreciation of Property Value
[9]
Assumes Seller pays Owners policy.  Only need to pay for mortgage policy.
[10]
Because refi must pay for new owners policy minus disc. Plus mort. policy
[11]
Assumes seller pays for owners policy.  Only need mortgage policy.
[12]
Appraisal & Survey needed for any type of borrowing.  Inspection is buyer choice, I don't normally do one.  Don't need any if buying cash but would advise survey.
[13]
No Inspection
[14]
Only need Appraisal, already paid for survey.
[15]
No Inspection