All Forum Posts by: Muks M.

@christopher Brainard, @Jeff S, @Adam Smith

Thank you all for the prompt response!! Really appreciate it!

The argument I am using in my head is that mine is 15 yr mortgage currently (switched to 15 yr from 30 yrs couple of yrs back due to low interest as it was my primary residence). If I refinance to 30 yr now, monthly spend will ~1650 (as opposed to $2250) and this property becomes a positive cash flow altogether then ($200/month) at anticipated rent at $1850. I will further have room to increase my cash flow to $300/month if I get rid of warranty, trash incentive etc. Obviously I would need to incorporate vacancy, repairs to it. 

Looking forward to additional insights!!

Hell seasoned investors,

just starting out my RE investing venture by moving to single family home and planning to rent my current townhouse.

Trying to figure out if it makes sense to rent...perhaps some experienced landlord could help me analyze this.  Details below:

15 yr mortgage at 2.75%...

Total monthly payment for my current home is $1872 (PITI). Money going to principle is ~950

HOA of 113/month (include trash collection fee which I am thinking to provide as an incentive to the renter)

Home warranty $54/month

Total per month expense ~$2050 and expected per month rent is $1850

It seems like a negative cash flow/month. But the way I am thinking is that ~$950 is going towards principle in my monthly mortgage payments which in long term is coming to me anyways and I will be taking ~$750/month to my pocket at the end.

Not sure if it is the right way of looking at it?

Any feedback would be appreciated!