Property Information:
Zoned: Single
Current use: Single
Apartment 1: 3/1.5
Square Feet: 1476
CofO: Yes and transferable
Occupied: Rented to a long termtenant
Repairs: None
Balance Sheet:
$ (28,000.00) Contract Price
$ (2,000.00) Assignment Fee
$ (0.00) Estimated Repairs
$ (750.00) Estimated Closing Costs
$ (30,750.00) Total Investment
$ 37,500.00 FMV
$ 6,750.00 Equity
Income Statement:
$ 625.00 Current Rent
$ (62.50) Property Management (10% of Gross)
$ (12.50) ***Optional Powerteam Consulting (2% of Gross)
$ (31.25) Vacancy Allottment (5% of Gross)
$ (31.25) Repair Allottment (5% of Gross)
$ (130.67) Estimated Payment (80% ltv, 7%, 30yr)
$ (169.08) Estimated Taxes
$ (50.00) Estimated Insurance
$ 137.75 Estimated Monthly Cash Flow
First Year Cash on Cash Return:
$ (5,600.00) Down Payment (20% of Contract Price)
$ (2,000.00) Assignment Fee
$ (0.00) Estimated Repairs
$ (750.00) Estimated Closing Costs
$ (8,350.00) Total Estimated Cost
$ 1,653.00 Total Estimated Annual Cash Flow
20% First Year COC Return
***The optional powerteam consulting service is ideal for investors looking for a truly passive investment or for out of town investors who can't keep an eye on their properties. Investors who choose this service have the security of knowing someone is truly watching out for their interests. We create a fiduciary responsibility to the investor by entering into a contractual arrangment completely separate from all other contracts. We will ensure the selected property management company is doing its job, contracters aren't over charging, and the tenant is not damaging the property. We become the investors "feet" on the ground and represent the investor locally.
Sunday, September 7, 2008
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