Currenlty I have a property under contract in Philadelphia. I’m purchasing the property for $135,000. This includes a 6% sellers’ concession towards closing costs. This brings the purchase price to $128,043. For me to qualify for the mortgage, I need a down payment of $8000. and reserves of $5400. I’m asking for a loan amount of $12,000. I’ve already paid $2000. toward the down payment and need $12000. to make the deal happen. The property needs $15000 in rehab. I’m still awaiting the appraisal to find out the value of the house. This will determine whether I pursue the deal or not. I should have this information by Tuesday, June 26. Property Specs: Philadelphia, PA 19141 3 Units: 1st Floor 2nd Floor 3rd Floor 2 Bedrooms 2 Bedrooms 1 Bedroom 1 Bath 1 Bath 1 Bath 1200 Square Feet 1200 Square Feet 1000 Square Feet $625 $625 $450 MY Mortgage Amount: $128,043. Payments: $902. Interest Rate: 7.5% Down Payment: 8000 Reserves: 5400 Cashflow from 3 Units: 1900 Additional Cashflow: 200 Total Cashflow: 1900 The property has a two-car garage that will generate $200. extra per month.