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Updated about 2 years ago,
Stupid Cash flow on First Property
Bought my first property in 2019 as my Primary Residence for $115k. Refinanced during COVID at 2.5%. Mortgage Payment is roughly $590 and HOA $400
I'm no longer living in the condo and renting out both rooms, one with a steady tenant and the other through Airbnb. The entire condo is producing roughly $2500/mo.
Initially when I bought the condo I ran the numbers and expected to cashflow maybe $100/mo if I were to rent it, but I had the fever and just had to jump at something. Now I'm sitting at almost a $1500/mo cashflow. This isn't normal is it??