Financing Rentals???

[John Weir]

Trying to decide if I should go ahead and buy this rental property? I would have to finance though but there would still be +$250/month cash flow even after mortgage and expenses (rough estimate on some stuff). Seeing if this is a good idea??

[Justin F.]

did you factor in vacancy and repairs ? If you post up numbers .. E.g. Purchase price , potential rent, re tax , repairs needed we could go through it . On a 30 year fixed, at 4.5% your monthly principal and interest on every 30k is about 150 a month. So if you buy a 100k home and finance 60k of it principal and interest would be about 300 a month. Add in tax, insurance, mgmt fees , hoa fees vacancy fees maintenance costs and subtract that total from rent. 

[Ward Mcdaniel]

John,

Up at the top of your BP page is the analyze section - drop down menu gives house flip calculator/rental property calculator and wholesaling calculator...the rental property one is probably what you would want - it is awesome to use....check it out....