Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 3 years ago on . Most recent reply

User Stats

10
Posts
1
Votes
David Kirk
1
Votes |
10
Posts

Deciding what should i do with my first investment property

David Kirk
Posted

 Hey guys If you were me which would you choose:

Option #1 : 5bed/3bath condo

-Morgage payment $2917 monthly

- Hoa $620 monthly

Home warranty insurance $100 monthly

Total : 3637 monthly 

-Condo bought at $660k as a 3 bed 3 bath and now added to extra bed rooms

- I Will wait 2 years to sell i have no idea what the property is worth yet so im waiting until then

Option 2 : Rent upstairs , 3bed 2 bath for $2300. Rent down stairs 2 bed 1 bath $1800 both have separate entrances and kitchens

Total : $4100

Pay morgage $2917

Minus $620 hoa monthly

Brings us to :$563 left for cash flow

Will move soon property manager charges %10 of each unit

10% percent of 2300 upstairs =$230

10% percent of 1800 downstairs = $180

In total : $230+$180=410

Subtracting from cash flow for property manager and insurance will be $53 cash flow 

No property manger and mangage over seas : $463 cash flow

Any advice ?thank you in advance !! 🙏🏾

Loading replies...