…course, “gross revenue” and “net profit” are not the same thing. Your properties have overhead, including property taxes, homeowners insurance, repairs, maintenance, management, capital expenditures, and vacancies. These operating expenses…
Search results for: repairs and maintenance
The Four Pillars of FIRE 🔥
…property, and then renting out said property. You’re advertising the vacancy, collecting rent checks, performing routine maintenance and repairs, and paying taxes as a landlord. But there’s a huuuuge difference…
One TERRIBLE Piece of Financial Advice You Should Never, Ever Listen To
…insurance, taxes, loan interest, repairs, maintenance, Realtor commissions and closing costs. If they’re lucky, most of their net gains can be explained as “inflation plus 2 percent.” Most people would…
#435: Ask Paula: How To Prepare for A Layoff
…house free and clear in a desirable vacation spot. The taxes are low and my only other housing expenses are insurance, maintenance, and repairs. I could scrape by on $1,500…
#448: Ask Paula: We Make $300k. Why Are We NOT Financially Independent?
…estimate we’ll spend $80,000 to $90,000 per year. In addition, we’ll have occasional one-time bills for home repairs, emergencies, and other unexpected expenses. I intend to continue earning part-time income…
#449: Ask Paula: Should You Buy Real Estate in Today’s Economy?
…I’d have to spend some money on repairs, especially to update the bathroom in my unit. However, I’m discovering that the property needs more than I expected, including two new…
Why “Earn More” vs. “Save More” is the Wrong Debate
…by operating costs, such as repairs, maintenance, management, etc. The implication: if you hold free-and-clear properties that meet the 1 percent rule, you can expect to pocket 6 percent of…
The American Dream … or the American Nightmare?
…than what you’d experience through an index fund tracking the overall stock market. 3. Many people forget the costs of homeowners insurance, maintenance, repairs, mortgage interest, and mortgage insurance. When…
#442: Ask Paula: I Tripled My Income. Now What?
…rate. He’s pointing out houses that are $350,000. Factoring in maintenance costs and homeowner’s insurance, which is expensive in Florida, my monthly payment would be more than half of my…
What a 2,000-Year-Old Roman Taught Me About Landlording
…for trash as through we’re three separate households – tripling the trash bill. Cost: $100/mo. Maintenance — We save one percent of the purchase price, or $2,250 per year ($187…