It's all about ROI (return on investment) I have a simple spred sheet you can have and use. Just contact me I'll send it to you.
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Charles Rutenberg Realty
933 Lee Road, Suite 300
Orlando, FL 32810
Office: (407) 622-2122
Cell: (407) 222-4545
I one or two clients that are making several hundred dollars a month in the 50K to 90K range, but that's because they got a low interest rate loan, the taxes are low and the home owners association fees are also very low.
Most of my clients don't make much of a positive cash flow in this price range. Their exit strategy is to buy now at a low price, hold the property for several years and then sell it once the market improves.
I would also recommend that you hire a property manager to manage the property, it will save you time and money in the long run.
Projected Gross Income ($500-900 per month)
Less -Vacancy & Collections
= Effective Gross Income
=Net Operating Income
Less-Debt Service (annual mortgage payments)
= Pre Tax Cash Flow (Before tax)
Veteran Real Estate