Seeking funding for a cash flow property in PA
We are looking for funding for 2 units that we can get at approximately 50% of value. Each unit has an estimated worth between $45000 to $50000 each and we have the opportunity to buy them at $50000 for both. The need approximately $10000 of rehab combined. Both are currently wented but not at fully potential. They both qualify for section 8 rent. We figure each unit can easily get $500 per month per unit with only costs being taxes and insurance as the tenant pays all utilities. Please contact us if you are interested in funding this project at purplepliers@ptd.net
Summary:
purchase price - $50000
ARV - $90000 to $100000
rehab - $10000
approximate insurance & taxes $1800 per year
cap rate for the first year including rehab costs - 17%
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