Ziggy Fund Alpha Proforma

	A	B	D	E	F	G	H
1	Timing		Short-term Financing
2	Months to Renovate	4 Months	Loan-to-Value	80%
3			Loan Amount	$169,625	Includes constuction budget + GC costs
4	Acquisition & Investment		Down Payment %	20%
5	Purchase Price	$115,000	Construction Budget Financed	90%
6	Closing Costs %	1.5%	Down Payment $	$23,000
7	Closing Costs $	$1,725	Cashout Construction Budget	$8,625
8	Construction Budget	$75,000	Loan Closing Costs %	3.00%
9	GC Costs %	15.0%	Loan Closing Costs $	$5,089			Next Steps
10	GC Costs $	$11,250	Mortgage Interest Rate	8.80%			Add accounting costs
11	Furnishing Budget	$7,500	Mortgage Term	1 Year			Add other operating costs
12	Other Initial Expenses	$1,500	Interest Type	Interest
13	Total Initial Investment	$211,975	Upfront Equity	$47,439
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15	Disposition		Long-term Financing
16	Property Increased Value	35%	Loan-to-Value	80%
17	Sale Price	$256,500	Loan Amount	$205,200
18	Broker Commission	6.00%	Loan Closing Costs %	3.00%
19	Other Closing Costs	1.00%	Loan Closing Costs $	$6,156
20			Mortgage Interest Rate	5.50%
21	Rental Operations		Mortgage Term in Years	30
22	RevPAN	$75	Interest Type	Amortization
23	Property Management Fee	20%	Refinance Cashflow	$45,144
24	Real Estate Tax	$63.00
25	Insurance	$46.00
26	HOA Fees	$0.00	Number of Properties	9
27	Utilities	7.00%	Equity Needed	$426,949
28	Maintenance	5.00%	Cashflow Needed Year 0	$120,114
29	Other Ongoing Expenses	$8.00	Additional Raised	$35,000
30	Supply Fees	$99.00	Total Raise	$582,063	$575,000.00	Will raise	23.00
31	Channel Fee	0.00%
32	Monthly Accounting Costs	$800		$629,501
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