Financial Highlights

Initial Offer Date: February 9, 2019

Initial Offer amount: $45,000

Purchase Close Date: April 01, 2019

Purchase Price: $55,000

Purchase Source: MLS

Rehab Start Date: April 4, 2019

Rehab Completion Date: May 30, 2019

Rehab Amount: $16,079

Appraisal Date: June 5, 2019

Appraised Value: $76,000

Refinance Date: June 27, 2019

Rent: $1,200

Taxes: $1,451

Financial Summary

This was our first.  I’m beyond a static with the results.  We have an amazing tenant.  He has paid rent on time each month and has not been any trouble.  One minor repair in which the C02 detectors started sounding and the fire department was called.  This has nothing to do with the tenant.

It’s amazing to think that our monthly mortgage is so low based upon the appraised value and yet the rent is so high.  This almost follows the 2% rule.

We did enough to leave a substantial amount of money in the deal and I knew this going into that deal.  I have absolutely zero regrets knowing that this was our first deal and how it turned out so well.

The question will be, “are these actuals?  Or is this simply spreadsheet math?” what additional hidden costs are there that the spreadsheet is not calculated?