Quote:
Originally Posted by BareBacked
Better hope nothing goes wrong on the property
tax and all that I would guess you will be lucky to break even..
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Taxes and insurance are calculated in my monthly expenses, plus a 150$ monthtly provision .
So, it comes down to this :
- Positive cash flow / year : 6000.00
- Payment of principal : 5334.79
Subtotal: 11 334.79
Now, I coul as well factor in the increase in property value ( this is not in the USA ... but in Canada where no real estate balloon exist ) : 4000.00 as well as future incease in rent ( about 400.00 a year ) .
Now compare it with the lousy interest I get on the same 70K in the bank ( $94.00 )
Date Transactions Debit Credit Running Balance 3
Jan. 04, 2012 Internet Banking INTERNET TRANSFER 000000851420 $900.00 $74,434.99
Dec. 30, 2011 Branch Transaction PROMOTIONAL INTEREST $18.91 $73,534.99
Dec. 30, 2011 Branch Transaction INTEREST $75.62 $73,516.08
Dec. 28, 2011 Internet Banking INTERNET TRANSFER 000000695543 $1,650.00 $73,440.46
I know, I should invest that in adult ...
