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ESTAPLACE.COM REAL ESTATE - FREE LISTING SERVICE -
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Nesgroup address: misc.invest.real-estate - Date & Time for the message: Mon, 28 Mar 2005 07:47:22 -0700
/ Author of the message: "John R Fox" |
Title of the message: |
Re: Is positive cash flow possible?
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Text of the message: |
You are right. YOur problem is that you can only get $1,000 in rent. Whereas, i just bought a house for $64,000 (Actually paid $62,000 for it, but had $2,000 in minor repairs, and I always count that as part of the total cost) and it is rented out at $800 per month. the key is to not pay more than 85 times rent for the pproperty, and that is AFTER any repairs. It CAN be done, but only in certain cities. The houses I buy are NOT in my state. I use a management company to manage them. But, buying for those levels gives me a GREAT positive cash flow. That one has an ARM on it (I know, I know) and my P&I payments are $289 a month. Versus the rent of $800 per month. Leaves me a LOT of cash for taxes and insurance AND for future repairs and maint. yes, it can be done, but be STRICT about paying no more than 85 times rent, and you'll do well. ANd, when you see that it is HARD to find such a deal, |
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Estaplace.com is one the Ceglia Giovanni projects, started on 20 July 2005, and online since 20 August as a real estate platform for listings, mainly operating on the Italian and American/English market in the Internet, Estaplace would like to become the point of referiment for home sellers and home buyers, a site where private owners or real estate agencies can have the possibility to show their offers to the world. Estaplace.com is only one of the Giovanni Ceglia's sites. Everyday Giovanni Ceglia works to improve new Internet tools and services for online marketing and business. Estaplace.com will become the biggest portal for real estate business and investments online.