Oct 25, 2006
Wheeeeee!
Posted by Clifford under Housing
The race is on!
Both houses are now on the rental market. If I can rent both houses before they’re sold, I’ll keep them.
I already have a lead on the second house.
I feel really dumb. The perfect tenant is leaving because I didn’t ask enough questions from the start.
The Real Estate Agent reaffirmed that he’s alright with this. He said he never has any problem with clients who want to hold long-term. Of course, he makes more money.
It’s nice to know we can sometimes see the bigger picture.
It’s just the smae when learning to trade and invest in stocks. At first it is a learning curve and you probably lose some money or at least don’t make a lot. Traders call it “tuition”. The dangerous people are those who strike lucky the first time around
So you’ve confirmed that your monthly cashflow will be INCREASED if you:
+ Rent out both houses
- Pay rent somewhere to live
= More money in Cliff’s pocket
Or, looking at this another way, basically, what I’m asking is. . .
Mortgage + Your Rent < Rental Income (???)
Moom, I knew I was going to be making mistakes and losing money. The good news is I won’t be making these mistakes again. I’ve already adjusted my overall spreadsheet calculator to take into account 12% in fees and closing costs when the property is sold.
X, my negative cashflow will decrease. I won’t have positive cashflow for a few more years. I’m negotiating living in someone’s basement right now for a few months to help releave the high cost of renting.
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