[quote=CONCHO]I’ve got a property well under $200K on the market that can generate $2,000 per month in rents without any HOA or MR fees.
Yep that wouldn’t even be on the market for a day. Let’s look at the numbers.
$40K down – opportunity cost (4% return)- $134/month
$160K loan at 6% – $1000/month
Taxes at 1.25% – $208/month
So basically for a total cost of less than $1400 a month you get $2000 a month of income. SIGN ME UP. Put up the MLS listing right now and I guarantee you that someone here on this board will buy it — assuming of course that it doesn’t need $150K in repairs and updating.[/quote]
Be careful about rental income estimates. My wife works in property management (about 700 units under management) and she tells me that vacancies are up and rents are down.
