Woodbridge

Great home in Woodbridge VA near I-95 and Prince William Parkway.

3326 Rollingwood Dr,Woodbridge, VA 22192

4 beds 2.5 baths 1,744 sqft

This property was acquired using a “Lease Option” contract

All of the mortgage payments towards principle will go to the owner of the home.

Exit strategies:

1) Short Term Tenant Buyer (24 months)

2) Long Term Tenants (60 months) with refinance after five years

Total Purchase Price

1) House – $324,000

2) Mini-Rehab – $0

Total cost – $324,000.00

ARV – 360,000.000

Built in Equity – $36,000

Upfront Costs = DP +Rehab = 35640 + 0 = 35640

Monthly Mortgage – $1400

Monthly Rent $1900

Cash on Cash returns – 13.5%

ROI (Cash only) – 13.5%

 

Purchase Price – $324,000

Current tenant has a mortgage broker and they will be ready to purchase the house in 2018.

They expect to pay $360,000 in 2018

 

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