Quote:
Originally Posted by After Shock Media
Not including any property taxes, closing costs, and assuming 0 down.
70k on a 30yr fixed at 6.25 would be 431.00 per month.
So if rents are above 520.00 a month typically that is a great market right now. Specially if you can justify a standard 3% per year rent increase.
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Let me help you a bit.
Rent 1100
Taxes - 120
ins - 60
water - 90
maint 110
vac 55
manage 110
the house in question is a little better then break even. But add in tax benefits and appreciation and it is pretty easy to become wealthy in the long run with this type of stuff.
Buying with both hands at the moment.