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Updated about 3 years ago on .
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Can I profit of this property when we decide to move?
https://www.realtor.com/reales...
This is what I'm thinking:
rent 1,200
mortgage 799
maintinance 6%
vacancy 5%
Capital expenditures 6%
management 10%
trash monthly $25
profit per month comes out to $25 ?!
The house was listed originally at 118,900 but it has went up and down a lot so im thinking about bidding 100k and then the sellers will "cover 3%" of my closing costs so it will be a loan of 103,000. Should I be bidding even lower than that?
We want to live in this house actually, we plan to live there at least 5-10 years then either sell it or rent it at that point when we retire. We are selling and renting our current home and plan to accumulate more rentals in between.