Subject To Deal...with PadSplit Exit

• 💵 Only $57k + closing cost
• 💵 Over $2,500/mo NET Cash Flow

Post Closing Expenses for PadSplit Exit:

• Renovations: $3,500
• Furnishings: $6,500

Details Below:

• Purchase Price: $280k
• ARV: $305k
• Underlying Loan Deets:
• FHA
• $214k Loan Balance
• 2.75% Interest
• PITI: $1762.17/mo
• 28 Years left on loan
• Deferred Balance of $36,045

Method of Entry: Subto

• Exit Strategy: PadSplit (rent by the room)
• COE: On or before 1/19/2024
• Monthly Cash Flow: $2,536
• Yearly Cash Flow: $30,432
• Cash to Close: 57k + cc    
• Post Closing Expense = $10k (PS buildout & Furnishings)

Income Potential

• Market Rental Rate: $2,150 (Rentcast.io & Zillow Rent Analyzer)
• PS Rate: $200/wk per room
• $800/mo per room x 7 rooms = $5,600

Gross Income: $5,600

Monthly Operating Expenses

• PITI: $1762.17/mo
• PadSplit Fee: $826/mo
• Utilities: $415/mo

Total Expenses: $3,063

Interior Breakdown 

• Bedroom 2:                     11x10
• Bedroom 3:                     11x11 
• Bedroom 4:                     11x12
• Half Master Bedroom: (Bedroom #5) 8x13
• Half Master Bedroom: (Bedroom #6) 8x13
• Half Living Room: (Bedroom #6) 8x14
• Half Living Room:    (Bedroom #7) 9x9

PadSplit Requirements (per bedroom)

• No less than 80 square feet
• At least 2 modes of egress
• HVAC return or supply
• Solid-surface flooring for easier maintenance and room turns
• At least 1 to 2 outlets
• A light source
• Furnishings (bed, mattress, clothing storage)
• Window treatments for privacy (blinds or curtains)
• Smoke detector
• Door lock
• Room numbers on each door

 *Requirements for submission: PLEASE read prior to submitting offer*

1. No Assignment of Contracts. We are willing to JV as long as you are transparent.  
2. Minimum escrow deposit of $5k required within 24 hours of acceptance of offer. 
3. Proof of funds required upon contract signing.
4. Property sold as-is. 
5. Buyer pays all closing costs as well as docs and deed stamps. 

For offers, negotiations, questions, showings and offers call/text Drew at 407-373-3279 or email Drew@FlashCashOffers.com 

Title Company: First International Title; Closing Agent Name: Natia Johnson; Phone: 407-350-3338x 5747; Email: Natia.Johnson@firstintitle.com; Address: 13538 Village Park Drive, Suite 120 Orlando, Florida 32837