Cash Flow is important to me. I'm trying to figure out how to properly analyze a property but I find my big road block are: knowing the insurance price, all tax information (such as: school, property, borough/county) and mortgage payments (it seems I have to first get approved to know this).
- It seems I have to contact insurance companies to get a quote but isn't there a way to get this information on the web with comparable prices?
- Where can I find a property tax information that shows all the taxes for a property?
- To determine mortgage payments, should I call a bank to find out what I'm approved of first and then bring up a property I'm interested in?
To analyze a deal it seems I have to reach out to get accurate or close estimates to know what I'm dealing with to determine if it's positive cash flow or negative.
Any suggestions or advice?
For the property tax info, you should be able to utilize the counties tax records, online. A mortgage payment is a combination of the amount, terms, and rate. The amount a bank will loan is dependent upon the value of the property. The term(years) is up to you. The interest rate is dependent upon your credit score. A simple mortgage calculator on your smartphone will tell you this price. For mortgage rates with your credit score check bankrate.com. For insurance, call a few companies and get quotes on a property and you can use this as a basis for similar properties you look at; or talk to neighbors about what they pay. The "Weekend Millionaire" was a pretty good book for investing in cash flow buy and holds. It also has an audiobook.
@Nicholas Reece thanks so much for that info. Highly apperciated, thanks again.
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