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Any Property Management recs in Seattle area? :(
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Coach
It’s real estate. Having $0 profit is profitable to you portfolio
Even negative cash flow is good if you have the right CPA
Really depends on how much your expenses are. If your mortgage is $3000 and you’re bringing in $3400 that’s different than a $500 mortgage bringing in $900. Also depends on the work involved.
Subject Expert
3 hours (or more) of travel time probably negates the “savings” of making the repairs yourself. You probably should source a handyman in the local area who can handle those repairs.
Subject Expert
Is that $400 after PITI, or are you also taking into account maintenance / repairs, vacancy expense, long term capital improvements, etc??
If you aren’t accounting for the bigger picture, then you’re probably losing money. That being said, a lot of experts expect prices to rise again once interest rates start getting cut, so holding on to a property for 1 to 3 years may see a significant increase in the value of the property, which is a calculation you need to make outside of the monthly cashflow calculation.
F.
I look for at least $100 per door for my unit number. I started there and my first door now doubles the mortgage. $400 is a great start.