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Updated about 9 years ago on . Most recent reply
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analysis of existing property
Hello every one, I'm trying to analyze an existing property that I've owned for the last five years. This is my one and only property and I need to make sure I'm not fooling myself about how much cash flow there is and what my ROI is. this is what I did please tell me if I'm on the right track
2010 purchase price. 210000
#Lost my job 2 months after purchase had a modification done. Current balance 203000
Mort. 1080
Taxes& insurance. 700
Interest rate. 4.3 Improvements over the last 5 years 30000
Rents. 2475
ARV. Comps done 9/15. 350000
The 1% rule says im doing ok but once you add vacancy, cap ex, maintenance and repair it's a different story. I used the rental property calculator but I can't figure out how to add it to this post
Most Popular Reply
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@Ramon Moreno - You would input the actual expenses from your tax returns (I would do the average of the past 2-3 years) into the BP calculator.
The compare it to properties currently on the market. Depending on where in Chicago it is, it can be very hard to find the 1% rule nowadays.
- Brie Schmidt
- Podcast Guest on Show #132
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