All Forum Posts by: Edson Cruz

Thank you Jaysen and Tim, this help to understand better.... this would be my first real estate investment. I think at this point single family makes more sense since the tenants can pay most of utilities.

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Thanks John, Teresa. Yeahh property taxes are included in the escrow. But I see John's point that's what we have been seeing as well... We just need it some kind of confirmation from other eyes... I guess at this point we could take the extra cash and buy a rental that way 

Townhouse details

Loan for $177k
Owe $158k
Value of the townhouse $225k
current mortgage $1118 including PMI and escrow
HOA $300
Total Mortgage+HOA= 1418

We could rent the townhouse for $1700 or $1800 as we see others in our neighborhood for that price. This will require low maintenance as we replaced a lot of appliances including the water softener and water heater this year. Maybe not looking to have a Property Management company.

If we sell the house we calculate to get $45k profit. From that we will use $20k to pay back what we are borrowing from buying the new house.

If we rent it with the 50% rule we could get $180 to $200 cash flow. Then it will take us some time to pay off the $20k back to my family.

Thanks and please let me know your ideas.