Скачать или смотреть Real Estate Income Report - How Much Did We Make? Annual Rent = $18,000

Short discussion on the alternate investment we own (not fully yet)!

Let’s start out with the stats: 3 bedroom, 2.5 bathroom, 2 story, 2 car garage, 1,374 sq.ft., appointed with granite counters, stainless steel appliances, light cabinet finishes, washer and dryer upstairs! Very low maintenance stucco finish, concrete tile roof, built in 2007 so it’s still a juvenile in terms of structure age!

Same tenants so we have kept the rent at a moderate, other comparable properties are asking $1650-1695.

Here are the numbers aside from random repairs.
+$18,000 annual rent ($1,500 mo.)
-$1,152 annual property management (-$96 mo.)
-$300 waste collection (-$25 mo.)
-$756 h2o, drainage, street sweeping (-$63 mo.)
-$384 lawn care (-$35 mo.)
-$15,444 Mortgage, taxes, and insurance (-$1,287 mo.)
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-$459 in the red!!! (-$38 mo.)

Tenant takes care of gas and electricity.

Well I’m sure the “book” says I should be net positive or it doesn’t work out on paper.... given the appreciation - I think the minor out of pocket cost takes a back seat to the wealth we are building.

What’s your impression? Sorry I jumbled the numbers between monthly/annual... hopefully it wasn’t too hard to follow!

Another strategy might be to hang onto this until the cash out equity matches the amount we owe on our primary residence, then payoff our home, convert it to a rental - then we could generate $1,800 to $2,000 per month ($21k to $24k per year). Then we would move on and buy a home with just a little more space & an office also!

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  / waves