All Forum Posts by: Account Closed

Hello BP friends. I'm a total newbie so pardon my ignorance. I'm trying to apply this rule for a property I'm looking at. Can someone validate I'm doing this right? Property is listed at $30k. Based on 2% rule should rent for $600 but rates around the area I found start at $750 and go up to as high as $1050. My mortgage calculator shows I would pay $122 to principal and interest, $28 in tax and $67 insurance. If I use the 50% rule, I'm not supposed to calculate the ins and tax since they are included in there right? If so, then is my math correct here? Rent for $750/50% rule = $375 minus $122 for principal and interest, this property should cashflow $253/month?

Wow thank you all so much for your input and ideas. Definitely helpful and insightful. I love BP!

About to embark on my first REI. Do you guys recommend I open separate bank accounts for each property? I'm planning to buy two in the next 6-9 months. Also, how do you handle rent payments. I've read a lot of blogs and listen to BP podcasts but have a dumb simple question: should I open a PO BOX or give tenants my home address? Concerned about sharing too much about myself in case a tenant goes crazy one day since I'm looking to buy in low-income areas. Suggestions?

Hello everyone. My name is Carlos and I'm a newbie looking to start my adventure in REI. Came across this site and been listening to the blogs. All advice and guidance is welcome and appreciated. Looking forward to networking. My hobbies include golf and now this site, I may be addicted to it. Ha!