Numbers on the SLC townhomes
October 13th, 2005 by KenricHere 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 month of expenses for when it was empty and $200.00 lease up fee, $375.00 rent.com, $400.00 new blinds. So I have paid about $2,000 out of pocket so far.
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TOWNHOME #2
Purchase price – $141,000
Closing costs – $4,000
Total price – $145,000
Loans – 20% @ 6.5% IO = $157.00
80% @ 5.5% IO = $531.00 (note this is an option ARM)
Taxes – $95.00
HOA – $97.00
Insurance – $10.00
PM – $80.00
Total monthly expenses = $970.00
Rent $965.00
Cashflow = -$5.00/month
Note: I have actually shelled out 1 month of expenses for when it was empty and $200.00 lease up fee, $250.00 broken window, $400.00 new blinds. So I have paid about $2,000 out of pocket so far.
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