Archive for October, 2005
Monday, October 31st, 2005
A few weeks ago I was on a plane and happen to sit next to a developer. We got talking and he told me about some land he had for sale in St. George. We exchanged information and a few weeks later I went to St. George to look at ...
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Wednesday, October 19th, 2005
Just got a new pricelist for my townhomes #1 & #2. The builder is currently selling my models at $165,900. I guess that makes me feel better about my negative cashflow.
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Thursday, October 13th, 2005
Here are the numbers on the townhomes:
TOWNHOME #1
Purchase price - $141,000
Closing costs - $4,000
Total price - $145,000
Loans - 20% @ 6.5% IO = $157.00
80% @ 5.875 IO = $568.00
Taxes - $95.00
HOA - $97.00
Insurance - $10.00
PM - $80.00
Total monthly expenses = $1,007.00
Rent $995.00
Cashflow = -$12.00/month
Note: I have actually shelled out 1 ...
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Monday, October 3rd, 2005
Good news, both townhomes (New construction townhomes #1 & #2) are rented. One was through Rent.com, the other through my property management company.
Bad news, someone broke a window in one of the units while it was empty, costing me $250.
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