Calculate Your Rental Property Cash Flow
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🔻As a first-time property investor, you need to ensure the rental property you purchase generates cash flow. Sure, buying at the right price is key as it will directly affect your mortgage.
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🔻But here are some other key things to consider when calculating your rental property cash flow:
✔️Down payment
✔️Mortgage cost
✔️Interest rate
✔️Property tax
✔️Insurance
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🔻Additional expenses: these include things such as lift or pool maintenance, pest control, vacancies, etc.
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🔻The rent: to define the rent you can expect for your rental property, check websites to find out the average rent in the area for similar properties.
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