1911 40th St

Background: The seller purchased the property to flip it, but they ran out of funds. We are looking for an investor that can complete the Job at approximately $28k per unit * 4 = $112,000. Options: You can keep the HML in place while completing the project and refi out when completed. Buy cash and complete it on your own time. BRRR Entry Fee: $30,000 + TC fee and CC 1911 40th St, Galveston, TX 77550 Principal Balance: $229,766.20 Reserve Balance: $25,000.00 ( Cash deposit made by owner) ARV: $550k Estimate repair: $112,000 Interest Rate: 15.9% HML PITI: $3,854.50/m EMD: $4,000 Cash to Seller: $0 No Arrears: $0 LTR COMPS: $1,250.00 Per Unit / $5,000 Month CORP RENTALS: $1,800/m ( $7,200 total monthly) STR: $ 2,000/ per unit ($8,000 total monthly) Completed work: 4 Central A/C systems installed ( previously had no A/C) 10 year warranty Recently Painted in blue ( just needs trim paint and balcony) New Framing in all units All new Electrical (switches, lights, connections etc) All new Plumbing 4 New fridge and Stove ( Still in Box) 4 New bathtubs ( Still in Box) All new siding ¼ inch pressure treated New Windows and New Exterior Doors New water heater per unit *