Posted by Paul(FL) on May 21, 1999 at 09:30:07:
This is the way I figured it:
advertisment: 5% of Inc. = $60
Maint :10% of inc. = $120
Mgmt :10% of inc. = $120
Total = $300
Loan pmt PITI = $859
Exp = $300
This does not
vacancy rate : 10% of inc = $120
Total = $1279
for a neg cash flow of
If I read you right you are saying 40 % of P&I, not of Income.
This looks like a couple hundred $ diff.
I wonder which closer to the truth?
PS I?m very new at this so I would like to know for my learning experience, but I think it would be better for me to try to flip this one. Also, even though I can come up with the 20k to 30k for down and repair, I don?t think the bank will loan me the $ with my current mortgage, any suggestions there? I would consider a partner, but I don?t feel comfortable asking someone to get in on this when I have never done one.