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Updated over 11 years ago,
Understanding the 50% rule
Hi All,
Would someone explain to me how the numbers would fit in to the 50% rule. To my understanding half of your total rent will go towards your expenses. So correct me if i'm wrong but half of my rent should pay for my.............mortgage?
I'm looking at duplexes now and i'm trying to figure out which ones will meet the 50% rule but i'm not sure what numbers to plug in. I will try to give you some numbers, hopefully this will work.
1st duplex: aking 165k
2bdrm/each unit
rents 775 per unit
taxes 2500/yr
2car garage
2nd duplex:asking 139k
1bdrmm/each unit
rents for 600/month
taxes last year/1780
no garage