PROJECT : 48th & WALNUT STREET
Private Lender Project
48th & Walnut St - Duplex renovation in West Philadelphia
Purchase Price: $220,000
Closing Costs: $8,800
Construction Costs: $110,000
Total Project Cost: $338,800
Private Loan from one of our many great Private Lenders:
$300,000 @ 10% Interest Only for 12 months
$30,000 ROI for Lender
Refinanced at the 12 month mark:
$565,000 Appraisal ($226,200 in 'Sweat Equity')
Obtained $350,000 Mortgage at 4% for a 20 year Amortization.
Monthly / Annually
Rents: $3,600 / $43,200
*Expenses: $560 / $6,720
Debt Service: $2,120 / $25,440
POSITIVE CASH FLOW: $920 / $11,040
*Expense Ratio of 15.5%. This was engineered by choosing a property with no common areas, minimal exterior Landscaping Maintenance R&M, and tenants pay all utilities.
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