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Updated over 3 years ago on . Most recent reply

Aaron Jackson's profile image
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Aaron Jackson
  • Rental Property Investor
  • from Waxahachie, TX
  • Member since May 28, 2021
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Aaron Jackson's profile image
Aaron Jackson's profile image
Aaron Jackson
  • Rental Property Investor
  • from Waxahachie, TX
  • Member since May 28, 2021
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Aaron Jackson
  • Rental Property Investor
  • Waxahachie, TX
1
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4
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General Real Estate Investing

First Rental Property

Aaron Jackson
  • Rental Property Investor
  • Waxahachie, TX
Posted

I'm considering converting my current primary to my first rental property. In order to know if it's a good plan, what numbers do I need to consider? I'm currently at 65% LTV, and I think I can clear $700/month over my mortgage payment.

Any suggestions?

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Eric James's profile image
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Eric James
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  • from Malakoff, TX
  • Member since May 2, 2017
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Eric James
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  • from Malakoff, TX
  • Member since May 2, 2017
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Eric James
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  • Malakoff, TX
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Eric James
  • Investor
  • Malakoff, TX
Replied

You don't calculate what you clear above mortgage. You calculate: Rent - payment of principal - interest - taxes - insurance - maintenance -capital expenditures -vacancy = cash flow.

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