I found it is so hard to find properties with positive cash flow in Edmonton.
A typical townhouse will cost $185k. Suppose rent $1250. The expense would be $620(condo fee $250, tax $120, management $125(10%), vacancy $62(5%) and repair $62(5%)). Assume 20% down with amortization 25 yr at 5% rate, it will be -$235 negative per month.
Isn't this a scenario everyone should consider?
I see so many REIN realtors use the current rate 3%, 30 yr amortization, lower vacancy(3%) and repair(3%) to manufacture the numbers to present the best scenario to make it work, still it might just break even.
Are there any real good realtors here to find good deals? If you can, I want to work with you.
A typical townhouse will cost $185k. Suppose rent $1250. The expense would be $620(condo fee $250, tax $120, management $125(10%), vacancy $62(5%) and repair $62(5%)). Assume 20% down with amortization 25 yr at 5% rate, it will be -$235 negative per month.
Isn't this a scenario everyone should consider?
I see so many REIN realtors use the current rate 3%, 30 yr amortization, lower vacancy(3%) and repair(3%) to manufacture the numbers to present the best scenario to make it work, still it might just break even.
Are there any real good realtors here to find good deals? If you can, I want to work with you.