|
We have a rental property managed by an outside company. We don't have to do much thanks to the management company however we don't make that much money. It rents for $1800 a month. Property company takes 10% and first month rent. Property taxes are $7k since there is no homestead exemption. AC went out last year so that was $5k. Usually another $2k in misc repairs and $1k in insurance.
So intake is $21,600, expenses are $14k a year with no mortgage and no major repairs. If we had a mortgage the house would actually cost us cash flow and after interest there would be no profit.
Im happy we have it but not sure its the cash flow king people think it is. It can be a good investment over time, but dont count on it making monthly cash flow...
|