Does anyone own multi-family real estate?
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Poast new message in this thread
Date: February 11th, 2018 6:49 PM Author: navy crackhouse
4% return on my money every year. That's about all you can reasonably expect, bro.
I paid $1.050 million for a 2 family house in Brooklyn. The rent roll is $3950 per month. 47400 per year. Property tax is $6700. Insurance is $1300. Water and sewer is about $1200. Heat is about $1800. The fact that you get a big depreciation write down on your taxes every years is 180 a fuck. I titled the building in the name of an LLC. The LLC has a bank account. The top unit rents for $2200. The bottom shit unit rents for $1750. I keep that $1750 every month in the account to cover inevitable repairs and all expenses. The $2200 is my monthly nut to myself. There's about 9k in the LLC account right now. I own the building outright. As a Jew I refuse to do any actual work on the place and my contractor who did pretty much everything from snaking the sewer line to fixing clogged sinks died and so I badly need to find a goy who can handle that shit going forward.
(http://www.autoadmit.com/thread.php?thread_id=3890093&forum_id=2#35379262) |
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