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Dec 12 at biosarn z Instructions Question 10 An investor is considering the purchase of a distress property. She requires a return of 12% on her real estate investments. She Anticipates the following: 1. That she can secure an interest only loan in the amount of $350,000 at an interest rate of 3.75%10. 2. That the property will not generate any income in the first year. 3. Expenses for the acquisition, renovation, and ongoing expenses in the first year are as follow: 1. Loan cost $3,250 2. Title search $1,575 3. Renovation $45,000 4. Landscaping $1,800 5. Insurance $3,750 6. Property tax $6225 7. Selling cost $7.000 If the property does not sell after one year, the investor will have to keep the property for an additional year. She will be able to rent the property out and generate a monthly net cash flow of $1,875. If she anticipates selling the property for $535,000 at the end of year two, what is the maximum amount would she pay for the property today