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All Forum Posts by: Preeti Sharma

Preeti Sharma has started 4 posts and replied 12 times.

Post: First time buyer, paranoid

Preeti SharmaPosted
  • Posts 12
  • Votes 6
Quote from @Daniel McDonald:

Take the reserves off the rental income ($1900). I'm doing 8% vacancy, 5% capex, and 5% repairs(which is honestly low but I don't know the condition of the property). That would be $342 a month. 1900-342-1492=$66/month in cash flow. 


 Thanks, this clarity helps. Turnkey property, new carpet, good condition devices, freshly painted. Good condition kitchen and bath

Post: First time buyer, paranoid

Preeti SharmaPosted
  • Posts 12
  • Votes 6

In mid 40s, first time LTR buyer. $145k property, 20% down, $1900 rent, Monthly cost $1492

Doesn't meet 2% rule at 1.13%. With 1 month rent going to RE agent, and 1 month for vacancy and 1 month set aside for repairs. Cash flow will be ($804). Am i working the numbers right or being paranoid per my age.