Real investor deals worked through the numbers — the repair budget, the cash required, the coverage ratio and the offer the property actually supports. Newest first.
Whose Repair Number? Borrower Budget vs. Third-Party Estimate
A west Houston flip under contract at $215,000. The borrower budgeted $70,000 for repairs; a third-party-priced estimate from the same photos came in at $98,500. The $28,500 gap turns a comfortable close into an $11,456 liquidity shortfall and cuts the supportable offer from about $148,000 to about $120,000 — and why unused repair funds come back to the borrower at payoff.
Four Doors, One Hidden Coverage Problem
A four-condo package at $345,000 with $3,400 of rent in place. HOA dues and property taxes run 43% of stabilized rent, which puts DSCR at 0.81 today and 1.15 once the vacant unit leases — still short of a 1.20 target. Why door count is not cash flow, with the full PITIA and NOI math and a two-page PDF summary.
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