It’s simple math.
You just need to be able to carry the monthly costs plus some additional $$ for ROI. Your total carrying costs for a cash purchase will be in the range of $1800/mo plus a maintenance reserve and a 20% reduction in rental income for management fees.
Quote:
Originally Posted by Villager2be
For now we plan to live in it at least the months of Jan and Feb for now, potentially more in future years. So it should be easy to get short term guests even in the summer/fall months, and would you guess I could break even (more or less) with those ten months of income - assuming I can buy a 3BR Cottage in the low 300s? If we instead did as you suggest and just rented a place for us and leased out our place full time, what time of ROI cash flow would you expect on a 3 BR Cottage like this? (much appreciated!)
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