Calculating Break Even on your first investment
Hi,
I am new to this blog as well as the world of investing. Here's my scenario:
I am looking at a condo which is priced at $200k in Thousand Oaks, CA.
I have $10,000 to put down in this investment
That leaves me with a mortgage of $190k
The monthly rent in the area seems to be $1400
I have A+ credit therefore feel that I should be able to secure a decent mortgage
My question is other than, tax, property tax, mortgage what other costs should I calculate in order to figure out my b/e as well as the fact that this is a good investment? Thanks for your help in advance.