Posted by Mike.BC on November 29, 2000 at 24:33:13:
Other expenses include city utilities (water, sewer, garbage pick-up), and an allowance for vacancies including advertising costs (this may be part of the management fees)
unsure - Posted by LeRoy
Posted by LeRoy on November 27, 2000 at 13:40:34:
I have just contracted to buy my 1st investment property.What I need to know is this…Will a 1%of total purchase price income per month be enough to have a pos. cash flow? It is a no money down deal, but I need to know if the property will pay for itself. Thanks
Re: unsure - Posted by BillW.
Posted by BillW. on November 27, 2000 at 16:23:52:
There’s no way to tell if 1 percent will cover the mortgage payments unless you know what they are.
Calculate the total of mortgage pmts, taxes, insurance and operating costs, whatever they may be and then check to see that the rent will cover them. If you got a good deal, it probably will, but the closer you get to retail, they probably won’t, especially with zero down.
BillW.
Re: unsure - Posted by LeRoy
Posted by LeRoy on November 27, 2000 at 16:56:01:
Thanks Bill I’ve added PITI plus maint. and a litle for management. Have I left anything out?