In trying to determine whether benefits in investing in real estate I`ve tried to work out a few scenarios.
This is a real triplex advertized in my home town.
Asking price 134,900
General Description
TRIPLEX! EXTENSIVELY RENOVATED UNITS. MOSTLY UPDATED WINDOWS. MAIN FLOOR...
I was referring to the amount paid towards the premium over five years , I thought it wouldn't as high but I entered it into an amoritization table and found that the 300,000 figure is about right. This calculator actually gives a higher number, roughly 360,000...
In scenario #1 I don't see how a third of his mortgage payment went towards the principle. The way I understand mortgages less than 10% of his monthly payments would have gone towards the principle for the first 5 years. Is this the result of a low interest rate or is his mortgage structured...