Satterfield Investment Properties
Satterfield Investment Properties Inc.
United States
ph: 863-242-2757
satinvpr
Income vs. Expenses
Example of $250,000 home with 20% downpayment. Financed at 7% fixed rate for 30 years.
INCOME
RENTAL 30 WEEKS $21,000
RENTAL 35 WEEKS $24,500
RENTAL 40 WEEKS $28,000
HOME APPRECIATION 3% PER YEAR 1 $7,500
$7,500 APPRECIATION + $24,500 RENTAL INCOME = $32,000 YEARLY INCOME
EXPENSES MO. YR.
MORTGAGES $1330 $15,960
TAXES $280 $3,360
INSURANCE $120 $1,440
LAWN CARE $80 $960
POOL CARE $80 $960
UTILITIES $300 $3,600
MANAGEMENT FEE 15% of bookings ($24,500) $3,675
TOTAL MONTHLY EXPENSES FOR THE YEAR $26,280
ONE TIME EXPENSES
DOWNPAYMENT 20% $50,000
FURNISHINGS $15,000
MANAGMENT SET UP FEES $3,000
MORTGAGE/CLOSING FEES $7,500
TOTAL ONE TIME FEES $75,500
1 Orlando area average last 5 years as of March 2008.
*All figures are averages, and subject to change at any time due to market conditions. Please verify with your realtor, lender, and mortgage company prior to purchase.
** Please see your accountant regarding tax liabilities and write-offs.
Satterfield Investment Properties Inc.
United States
ph: 863-242-2757
satinvpr
