My Cashflow in Condo #1 disappears!
January 5th, 2006 by KenricI guess I have to start numbering my properties like the other blogs. New Construction Condo #1 is the one I bought pre-construction with these numbers
So the left side is from Jan 2005 and the right side is from today, Jan 2006
Rent === $1225/mo — $1225/mo (6 months left on lease)
mort 1 = $600/mo —- $854/mo (My 1/1 ARM readjusted +2%)
mort 2 = $200/mo —- $241/mo (HELOC went up 1%)
insur == $20/mo —– $20/mo (stayed the same, thank god)
HOA ==== $161/mo —- $223/mo (Damn HOA’s)
taxes == $50/mo —– $200/mo (Last year was new construction)
Cashflow=$194/mo —- ($313/mo)(DAMN!!!!!!)
COCR === 8% ——— don’t even wanna go there
The good news is that I am refinancing the 1st mortgage with will lower the payment probably $75/mo. The other good news is that my rent is under market by $275, which won’t help me for the next 6 months. The real good news is that the condo has appreciated about $60,000.
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Stumble it!
Ahhhh, the goold old days.
I came across this post in March of 2009 and my, how things have changed.
By Fred on Mar 17, 2009