Here I break down the numbers on how much I make on my first rental property! Finally doing YouTube shorts btw π Let me know …
source
Here I break down the numbers on how much I make on my first rental property! Finally doing YouTube shorts btw π Let me know …
source
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32 comments
Sp after 8 years you still haven't made your money back that you put down..not the best
I Hit 250k today. Appreciate you for all the knowledge and nuggets you had thrown my way over the last months. Started with 24k in July 2024
Paper maths isn't life maths; but all the best to you
I make 5k profit a month with one property. Gotta have a niche.
Before tax…
There is no way the mortgage on this is $870 π
Mortgage is $870 and she's charging $2,000 for rent. This should be illegal.
Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
In 2012 you could close your eyes and throw a dart at a map and find a good deal. This doesn't really help us because it has nothing to do with the real estate market today.
Buying a π‘8 years ago would have been ππΎβ 1. Lower home prices 2. Lower interest rates 3. Equity growth over time 4. Affordability 5. Hedge against inflation
I hope your house is not in Los Angeles City or County. They'll control your monthly rent and the renter doesn't have to pay rent, can't evict them either! O personality know someone lost both his rental and primary house during Covid. He depend on the rental for his house mortgage. You'll be happy and own nothing. In his case its TRUE !!
I often wonder how top level investors are able to become millionaires by investing. Just made a home sale and Iβve been sitting on about $545K equity, not sure where to go from here. Is it a good time to buy into stocks or do I stay 100% cash?
U tryna tell me even Shang Tseung from Mortal Kombat is buying rentals now???? SHHHHTπ I need to get my rentals up Immediately!
Cash out and leave the USA ππ
In 2012 the mortgage rate was 3.65 percent. the average rate was about 11% return. try to find a buyer that can afford that house today – 500k at 7 % today is 3029 per month for principal and interest with 50k down the person buying that house has to make 11000 a month to qualify or 131000 and have 50k to put down. if you boutght this to rent you would put down 50 k, and you would have to charge 3800 per month to cover the taxes and P and I – how many people can afford 3700 a mont in rent?
I rent a mobile home I bought for $20k and it cash flows $1000 a month. That includes taking out for $800 a month park lot rent.
You need to purchase rental in The Bahamas π§πΈ. It's better in my country. ππΎ
RIP if you're trying to buy a house now
Thought I was watching a video on a current home not something u got in 2012 β¦ fuck out of here
Highly Recommend
Cash out Refi Now
π΅π΅π΅
Howd you get 60 large for a down payment….?
I bought my first rental property in 2013 for 280k. Itβs a 3 unit house.
2bed
2bed
3bed
Makes 6200 per month with a 2200 mortgage per month
2013 was a great time to buy
Also depends on if you can get good tenants.
Just sell it
Investing is my way of passive income as well. Millionaire in 5 years or less? Easy!
It will take 15 years to break even.
You would make a lot of profit until the government hits you with that capital gains tax π
There are two ways out of that situation. Do you know them?
So about 78k. If you invested that 78k in the sp500 in 2012, that money would be 414k today without the headache
Owning properties truly help to obtain generational wealth, especially when you own multiple.
Good luck selling it. lol π
You should sell then with the profit you pay for a condo or small house cash then you'll net more per month.
…and you just saved up all of that initial money yourself oooor..?