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.
General Landlording & Rental Properties
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 about 6 years ago on . Most recent reply

Account Closed
  • Rental Property Investor
  • Harrisburg, PA
20
Votes |
77
Posts

Please evaluate my numbers

Account Closed
  • Rental Property Investor
  • Harrisburg, PA
Posted

Hello All, I am a newbie in these forums and bought my 1st condo investment property in central Jersey. Lived in it for a year and then rented out.

Here are the numbers 

Its a 2br 2 ba 1100sqt condo with homeowners association. 

Incoming rent 1825

Operating expenses : 

1. property tax- 416.mo

2. home insurance(farmers) -37/mo

3.  Home warranty- 50/month (american home shield

4. HOA- 300/month

5. vacancy 5% - 90/month ( the property is in a high rental location, it got rented in a week.

6. Repairs 5% -90/month

7. Capex- not sure If I should allot for this ,as I am already paying american homeshield.

8.  Property management 6 % : 108/month

9. Principal + interest 821.15/mo

Total expenses come to 1912.15 $

As you can see, not much cash flow- infact going negative. 

Any comments on my situation. What can I modify to be in a better cash flow situation. 

Also , I have a W2 job, so i dont depend on the cash flow from rental- it would be still nice to have a positive cash flow.

Any and All advice  would be appreciated.

Thanks.

Loading replies...