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MJ DeMarco
I followed the science; all I found was money.
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There are a lot of variables ... you should whip out a spreadsheet and run an analysis. The key metrics will be
1) Market rents
2) Average time to rent
3) Fix up costs (if any)
4) Holding costs (Prosper loan, mortgage, insurance, etc.)
5) Acquisition cost
I'd run a financial analysis on 5 scenarios:
1) Best case (Example: Home is rented immediately, property acquired at 30% discount, etc.)
2) Good case
3) Ok case
4) Bad case
5) Worse case (Example: Home takes 5 months to rent, $xxxx in fix it costs, etc)
Only then will you really know if your numbers work.
1) Market rents
2) Average time to rent
3) Fix up costs (if any)
4) Holding costs (Prosper loan, mortgage, insurance, etc.)
5) Acquisition cost
I'd run a financial analysis on 5 scenarios:
1) Best case (Example: Home is rented immediately, property acquired at 30% discount, etc.)
2) Good case
3) Ok case
4) Bad case
5) Worse case (Example: Home takes 5 months to rent, $xxxx in fix it costs, etc)
Only then will you really know if your numbers work.
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