Posted by Rich_WI on March 08, 2014 at 11:03:11 from (50.50.82.205):
In Reply to: paying off mortgage posted by Ultradog MN on March 08, 2014 at 08:03:51:
Quoting Removed, click Modern View to see
Are you sure you will be $500 in the black each month? Most people underestimate expenses on rentals. The national average is 40% of rent and being a condo, with fees and early replacement of common areas, you should figure a higher percentage than the standard 40%.
If you have to pay a property management company, they will likely eat up profits at a pretty good rate. They are in business to make money, not break even and the money they make is all your profit, or it was before you hired them. Also, when a magement company has a call to fix something, they tend to be johnny on the spot fixing it. That makes them, as a company, look good so other renters want to live in a place controled by XYZ managment company. As such, they dont look for lowest bid or maximize saving money on repairs, its get-r-done... and fast. That translates to every time you let XYZ managment company have someone fix something for you, you are also paying a tax to the company for their good name. Think of it as when a sink leaks at your rental, they dont manage your money as well as you would and that extra money paid to the plumber translates to you paying XYZ'z advertizing that month. Does that make sense?
Not trying to talk you out of renting the condo, in fact I think it would be better to keep and rent but I want you to know the numbers. I have heard of people talking about clearing decient amounts of money each month, like $500 and in a few years they are getting foreclosed on. They just didnt expect the maintence budget that was needed for a rental. Most people just figured the same amount for maintence that they spent when they lived in the house. Thats just not accurate because most people that rent are animals...
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
... [Read Article]
Latest Ad:
1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
