RATE the economics of the new house i bought
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Date: December 16th, 2017 9:07 PM Author: violent excitant abode
1350 sq ft
$120,000
Can rent for 1250/mo
2.5 bath, 2 BR in ARE cuntry
Mortgage: 15 yr, 5% down, 3.375%
PMI: ~$50/mo
Insurance: $300-400/yr bc only a condo/townhome
Association fees: $160/mo
Real estate tax: $3500/yr (I know this sucks so bad)
Total monthly payment (all in) $1400/mo
PMI gone in 3 years
Hoping for the house to go up to $140k. Only nonblack, nonprole neighborhood with newer homes (built early 2000s)
(http://www.autoadmit.com/thread.php?thread_id=3831618&forum_id=2#34938590) |
Date: December 16th, 2017 9:29 PM Author: violent excitant abode
Principal is $487/month
Interest is $320/month
Say, if a renter pays 1200, you have -200/mo in cashflow.
$3444 profit in first year=57.4% return on initial $6000 investment, assuming no capital appreciation or tax deductions.
In 5 years the principal rises to $575. Returns 75% of the initial down payment annually.
I'm gonna buy more of these properties bros. NOCOIN!!
(http://www.autoadmit.com/thread.php?thread_id=3831618&forum_id=2#34938718) |
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Date: December 16th, 2017 9:31 PM Author: violent excitant abode
Just do value investing bro
Expected present value of future cashflows
Margin of safety
Buy a dollar for $0.50 rather than a bitcoin for $20,000
(http://www.autoadmit.com/thread.php?thread_id=3831618&forum_id=2#34938733) |
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Date: December 16th, 2017 9:32 PM Author: violent excitant abode
That's not so bad under 20:1 leverage
Hopefully it can do even better
Just conservatively stated
Dhando investing, bro
(http://www.autoadmit.com/thread.php?thread_id=3831618&forum_id=2#34938739) |
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