看房子看了将近三个月，在春天来临之前下了offer, 我们认为秋冬季节是好的买房季节。
A 2 family house:
Assess value： $72000
Sold Price: $65000
费用： home inspection: $350 + Lawyer fee: $600 = $950.
payment method:
cash: 15K
Crdit card: (life 1.99% 25K & life 3.99%25K) total monthly minimum payment: $300
Rent Income(2 units) :
$965/mo (rent can be higher)
Costs:
insurance: $680/ year
property tax: $3300/year ( big lot.. a mistake that can avoid next time)
operating cost (water and estimate maintenance) = ~ 35x6+1000 = $1210
Tenants are not difficult to find. I located the upper unit tenant just in a week.
There are also many college students need spaces to stay too.
Investment return:
965x12 - 1210-300x12 -3300 - 680 = $2770
cash % return : 2770/ 15K = 18%
If I payoff the house with cash, 65K,
(965*12 -1210-3300-680)/65K = 10%
If I really do not want to deal with property management and hire a property managerment service, it'll be an additional 10% of the total rent.
965x12x(1-10%)-1210-300x12-3300-680)/15K =10%
My conclusion:
For best return, use the minimum cash for the max return! If i have 45K, I can invest 3 properties, as long as I can get some low rate life time credits, or whatever!
Hummm.. have the rent to cover all and also with small of cash stream, I am feeling rich.
