Is a good idea, as you begin your landlord journey, keep a property’s profitability — as well as your investment strategy — top of mind and you should see a positive ROI from your rental portfolio.
More valuable information
Knowing the next information about a potential rental property will help you decide if it will be a good investment that aligns with your investment goals.
PROPERTY DETAILS
This includes the property value, property repair costs, square footage and number of bedrooms.
Mortgage details
This would be the loan terms, down payment, closing costs and interest rate.
rental income details
Calculate what the monthly rental income would be, other monthly income and the anticipated vacancy rate percentage.
monthly rental expenses
You need to know what your monthly maintenance, monthly repairs, monthly utilities, monthly HOA/dues and property management costs will be.
Annual Rental Expenses
This will be the annual property taxes and the annual insurance cost.