Tuesday, January 11, 2022 / by Leigh McPherson
In our little corner of paradise, buyers often raise this question about their prospective property purchase: Can I really make money on this?
The answer is... It depends!
What you actually put in your pocket at the end of the year depends on multiple factors.
Most buyers shop initially by price. With a cash sale, buyer closing costs will be nominal. If buyers are getting a loan, then the amount of down payment, the interest rate you lock in, and the other loan terms and fees you secure factor in to your initial purchase. However, with record low interest rates, it has become attractive to investors to leverage the bank's money.
*Monthly Condo Fees
*Utilities (some basic utility costs are included in monthly condo fees)
*HO6 Insurance (covers contents and liability)
Click below to see a sample cash flow example. We are happy to provide you a personalized analysis - just call, text, or email us with the property you are considering.
Cash Flow example