Nov 08 '09, 07:46 AMI have come across deals where the difference in rent to mortgage payment is anywhere between $200-$700. However that is ONLY rent and ONLY mortgage payments. What about the other expenses that come with holding on to a property (buy and hold and rent). How do I estimate those? Is there a general one fit all guide line?
I'm looking for something like : "rent needs to be twice the mortgage payment" or "mortgage payment can only be 2/3rds of the rent"
And this is for no-brainer deals, and assumes that no major expenses arise, just typical expected expenses. I want to be able to look at the numbers and know for sure whether this is a great deal or not.
