Interest only loans allows them to get a goal profit of $500-$600 per month per property.3) Each acquisition would require 20-25% down at an 80-100K purchase price. 4) Closing costs, and the Eric Spofford turn-key transaction fee of 10K would be in addition to the down payment and were not included for the purposes of calculating the cash-on-cash return.

As noted above, up to 50% of gross rental income normally gets eaten up by expenses (taxes, management fees, utilities, landscaping, repairs, capex, etc).

I am considering doing this but should I charge a fee to write up and get the lease addendum signed?

Negative cash flow with high HOA fees is a red flag.

State taxes may also apply.To minimize taxes, aim to reinvest the full proceeds into the replacement property, including closing costs and fees.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

I know this seems low, but the way I see it, this is how much the buyer would potentially walk away with if they posted it on the market and minus all the fees and concessions so I am getting them to that number with none of the hassle and removing the issue of a looming foreclosure.

It simplifies the process since Zillow handles credit, income, and background checks for a small fee paid by the applicant.Background Check Services: If you prefer not to use Zillow, consider using services like MySmartMove or RentSpree.

You will also want to make sure your fees are in line or below market and your pics are excellent.Check out Tripshock also for tix.Good luck!

I reply firmly that the rent has been late for the past two months as well as this month and she will have to vacate the property.Again, crickets...There are few days until the 10 day notice period expires and I can formally file for eviction.So I reached out to lawyers in the area and they ask for retainers up to $3k and some $300 consultation fees.