Having trouble running numbers on my personal home turned rental.

[Derek Markowicz]

I am having trouble understanding how to run my numbers on my personal home turned rental. I purchased the home in early 2014 for $111,000, currently worth 155,000. I currently owe 86,000 on the property. I lived there up until a year ago when I moved in with my girlfriend. Yes I let it sit for a year paying the the mortgage (you know just in case) I finally decided to see if I could rent it out. I was able to get a tenant in paying 1500 a month (about avg. market rent). My mortgage/taxes/insurance is 1045 a month. Tenant pay all utilities. Now this is definitely a better situation than just paying the mortgage. I am hoping someone would be able to help me understand if this is a good financial move or should I have just sold the property. Thank you for any and all help. If you need more information just ask.

[Tyler Gibson]

@Derek Markowicz Sounds like a good financial situation. I would suggest putting $150 in a savings account or something like that for CAPEX. Are there any other expenses like yard maintenance? If not it sounds like you have $300 a month in cash flow and that is pretty good. Any time you can buy a property and have someone else pay for it it is a good deal.