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Updated over 6 years ago on . Most recent reply
Numbers review on personal property to rental
Hey Folks,
I've been browsing BP for a while and purchased a personal residence less than a year ago. Potentially being transferred for work and have to decide what to do with my property. Based on what I'm seeing number wise I'm thinking of just letting the company handle the sale (all closing costs covered by them, going to negotiate buying costs as well) and moving on. Let me know if I may have overlooked something.
| Purchase Price | 175000 | |
| Currently Value | 186000 | |
| Equity | 45600 | |
| Mortgage, Insurance, Taxes | 1165 | |
| HOA | 120 | |
| Maintenance | 10% | 145 |
| Vacancies | 10% | 145 |
| Management | 7% | 100 |
| Tenant Placement | 8% | 121 |
| Total Costs | 1796 | |
| Rent Price | 1450 | |
| Equity | 200 | |
| Monthly Cash Flow | -346 | |
| Yearly Cash Flow | -4150 | |
| Monthly Cash + Equity | -146 | |
| Yearly Cash + Equity | -1750 |
Thanks for all comments in advance!