Financing

How much $ will I need?

Depending on how you finance the property will determine how much you will need to complete the transaction.

Here is an example using our mortgage broker.
Purchase Price $100,000

Cash needed:

• 10% Down Payment. = $10,000
• Rehab Money. = $9,000
• Carry Cost. (This is the cost to hold property each month. Items included are interest, taxes, insurance and utilities cost. Budget four months to carry the property. $1,000 per month X 4 months = $4,000
• Closing Cost. (Purchase) = $1,500

Total Cost For Average Investment = $25,000

(Tip- Most investors use a home equity line to finance the down payment, rehab, carry cost and closing cost. After the first couple deals, investors start using profits for reinvestments.)

Chase Real Estate maintains strategic relationships with some of the most prestigious lenders in the nation. Our bankers know that we have the experience, passion, and the expertise to identify real estate trends early in the market cycle and capitalize on them.