Hi all,
I bought my principal residence about 10 months ago downtown Toronto.
It is a bachelor condo,that i`m going to rent it soon.
I`m just wondering how you calculate the cash flow income.
I`m going to attend my ACRES meeting in T.O but can`t to get your views on this issue.
Here are the numbers:
Monthly Mortgage payments + taxes : $665
Condo fees : $193
Heat,hydro and AC are included in condo fees.
Total: $858
I plan on renting it around $1100 as a fair price,let`s say between $1000 and $1200.
For the sake of argument and because i`m "conservative",let`s say i rent it $1000.
My cash flow should be $142 ?
Simple as that,or do you take into account other factors.
And do you calculate the percentile out of $1000 or $858
Thanks all,
Itsik
I bought my principal residence about 10 months ago downtown Toronto.
It is a bachelor condo,that i`m going to rent it soon.
I`m just wondering how you calculate the cash flow income.
I`m going to attend my ACRES meeting in T.O but can`t to get your views on this issue.
Here are the numbers:
Monthly Mortgage payments + taxes : $665
Condo fees : $193
Heat,hydro and AC are included in condo fees.
Total: $858
I plan on renting it around $1100 as a fair price,let`s say between $1000 and $1200.
For the sake of argument and because i`m "conservative",let`s say i rent it $1000.
My cash flow should be $142 ?
Simple as that,or do you take into account other factors.
And do you calculate the percentile out of $1000 or $858
Thanks all,
Itsik