ENTER KEY FACTORS HERE FOR A QUICK DEAL ANALYSIS



ARV should be net of price drops, settlement help, and unexpected home inspection repairs. The value budgeted should be at the low end of the range of reasonable values.
This is the conservative total cost for the renovation project which you are relying on for your budget. This cost should be replaceable, meaning a substitute contractor could also accomplish the work for the same price.
Maximum purchase amount is normally less than ARV x 70% - Renovation.
Projected number of months to purchase the property, renovate, and resell.

Select A Loan

Cash-in Needed
$7,668
Net Profit $20,000 minimum net profit without a lender exception.
$32,596
Return Return % is calculated (NetProfit)/(TotalExpenses). A 15% return using a primary loan, and no gap loan, is the minimum return % without a lender exception.
18.67%
For a more exact deal analysis, edit the details in each section below.

Property Information from Zillow

Beds :
Baths :
Sqft :
Taxes :
Built :

After Repaired Value (High - Low Range)

ARV should be net of price drops, settlement help, and unexpected home inspection repairs. The value budgeted should be at the low end of the range of reasonable values.
Use single value from the ARV low‐high range. ARV should be net of price drops, settlement help, and unexpected home inspection repairs. The value budgeted should be at the low end of the range of reasonable values
Maximum purchase amount is normally less than ARV x 70% - Renovation.
ARV x 65% - Renovation Costs = $71,250
ARV x 70% - Renovation Costs = $82,500
ARV x 75% - Renovation Costs = $93,750
Desktop Appraisal: $150-175

Full Appraisal: $310-404

Survey: $339-671
https://www.homeadvisor.com/cost/architects-and-en…

Home insp: $350-400
https://www.thumbtack.com/p/home-inspection-cost

WDI insp: $80-100
https://www.thumbtack.com/p/termites-cost

Roof insp: $200-250
https://www.thumbtack.com/p/roof-inspection-cost

Structural insp: $100-200 per hr
https://www.thumbtack.com/p/structural-engineer-co…

Septic insp: $260-420
https://www.thumbtack.com/p/septic-inspection-cost

Well insp: $350-400
https://www.thumbtack.com/p/well-inspection-cost

Mold insp: $290-350
https://www.thumbtack.com/p/mold-inspection-cost

Asbestos insp: $230-330
https://www.thumbtack.com/p/asbestos-testing-cost

Radon insp: $230-330
https://www.thumbtack.com/p/radon-testing-cost

$1,100
Examination, Clearing defects, etc.
Owners coverage, and Lender's coverage. Calculating at ARV x factor.
Title insurance cost factor of 0.50% typically covers owners and lenders title ins coverage
Courier, Wire fees, Cert of Good Standing, Tax Cert, etc.
Delaware Transfer tax total 4% customarily split 50/50 between buyer and seller.
Annual property tax total, prorated by # months of project.
Auction, Realtor, Finder, Consulting, etc.
CONTACT A LICENSED INSURANCE AGENT FOR ADVICE AND MORE ACCURATE INFO.
Your insurance should: list any lender as loss payee/mortgagee, provide liability coverage to at least 1MM, provide property damage coverage equal to the greater of the loan amount or the full replacement value of the property with improvements and materials, cover the scope of work (rehab vs reconstruction/any structural), provide coverage as a vacant property for the entire period it is unoccupied. Typically Builder's Risk insurance and a Liability rider or policy satisfy the insurance needed.

$6,294

Renovation Costs

This is the conservative total cost for the renovation project which you are relying on for your budget. This cost should be replaceable, meaning a substitute contractor could also accomplish the work for the same price.
Enter a single value from the low‐high reno range. This is the conservative total cost for the renovation project which you are relying on for your budget. This cost should be replaceable, meaning a substitute contractor could also accomplish the work for the same price.
Max renovation advance costs paid out by borrower before a draw reimbursement from a loan.
Unless the contractor will wait for payment, renovation work is paid for upfront by the borrower and reimbursed in scheduled draws from the loan's renovation escrow.

A Draw Schedule illustrates a detailed list of the work to be performed in each phase, and the associated costs for that work. Four draws from the loan's renovation escrow is common.

Example:
Draw 1
Remove and replace roof $6,000
Gut kitchen and baths $1,000
Clean out house/basement/garage $2,500
Remove landscaping $750
Haul away and dump fees included.
Total cost for Draw 1- $10,000
Max renovation advance costs paid out by borrower before a draw reimbursement from a loan.
Gas, electric, water, sewer, etc.
Rent, condo fees, homeowner association, etc.

$600
4% - 6% is typical
Delaware Transfer tax total 4% customarily split 50/50 between buyer and seller. 2% + 2% = 4%

$207,000

Financial Evaluation Summary

INCOME

After Repaired Value (ARV)
225,668
Xfer Tax, Realtor, Other
(18,596)
Return
207,000

EXPENSES

Purchase Price
225,668
Due Dilligence and Settlement
(0)
Renovation and Carry Costs
(0)
Primary Loan Points
(0)
Gap Loan Points
(0)
Primary Loan Interest
(0)
Gap Loan Interest
(0)
Total Expenses
207,000
NET PROFIT$20,000 minimum net profit without a lender exception.
207,000

Total Funding Needed

CASH-IN
MIN REQUIRED
Actual Cash In 		PRIMARY
Up to 65% LTV


Reset
GAP
65% - 75% LTV


Reset
Purchase Price
90,000
Purchase Deposit
2,000
Purchase Price Balance
88,000
81,336
6,664
Due Diligence and Settlement
7,394
6,390
Renovation and Carry Costs
60,600
7,394
Loan Points
5,422
4,311
Minimum Primary Loan Points 2,950
1,111
Minimum Gap Loan Points 500
Borrower's Max Reno Advance
15,000
7,668
7,332
Total Needed
178,418
9,668
146,246
22,501
From Cash-In
From Primary Loan
From Gap Loan
STILL NEEDED
Combined Loan Totals
Loan Amount 168,747
Points 5,422
Interest 10,988
Points % 3.21%
Interest Rate 13.02%

Want help looking at your deal?

X

Get an email with your deal analysis attached:

Acrobat .PDF
Excel Spreadsheet

Get a loan request started