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Home › Forums › Closed Forums › Buying and Selling RE › Another I want to buy a condo, then rent it out thread. › Hi Saiine. What I meant that

February 23, 2011 at 5:29 PM #671102
SD Realtor
Participant

Hi Saiine. What I meant that the numbers were not right was that I didn’t know that you had all those items I mentioned factored in.

So roughly you have

Mortgage payment + HOA + estimate for annual repairs + cost of vacancy + property tax + HOA

MINUS

Rental Income

to get your cash flow.

So if your numbers included all of those items then they are okay, I am not sure if they did or not. Now I also said roughly because those are the items that just came to mind, I may have missed one or two.

Now this is only with reference to cash flow. On the flip side the benefits are depreciation and you can expense other things that you could not when the home was owner occupied.