|
|
 |
|
| |
|
|
| |
by Dan Auito
|
|
print article · comment on article
|
|
| |
previous |
page 5 of 11 |
next |
|
| |
|
|
| |
inue on with the way things begin to unfold once you begin the journey. Starting with the day you close the deal and become the new owner you will see that you now have just created a passive income stream that gives you an extra $750.00 a month without you having to punch a clock or trade a certain amount of hours to earn the money. Your new asset works for you day in and day out constantly generating income for you while you go and do other things. This is leveraging your time and money in a very beneficial way!
You also will notice that at the closing of your purchase that the old owners who sold you this property had to prorate or give you a share of the rents due and any security deposits that the tenants had given to them. Now add to that the likelihood that your first house payment won’t come due until about a month and a half after you move in and you find yourself with, low and behold, extra money, probably for the first time in quite a while!
Let’s calculate it using simple math. Assuming you close on the 15th of the month, you will have 45 days before your first payment comes due, you will be credited with 15 days of rent, you will receive all security deposits of the tenant and you will receive another month’s rent on the first of the month from your tenant and you yourself will have no rent or house payment of your own to make for another whole month. What does all that add up to? Let’s break it down:
- Fifteen days of rent equal to $375.00
- A half month’s rent as a security deposit equal to $375.00
- A full month’s rent in another 15 days equal to $750.00
- No payment to the bank for another 30 days and you’re not paying rent to anyone any longer, so you keep whatever you normally would have had to give to someone else as rent that month (let’s say that was $500.00).
- Another payment to you for $750.00 from your tenant as well as you having to make your first mortgage payment of $1099.33 on the 1st of the month which comes 45 days later.
|
|
| |
|
|
| |
previous |
1·2·3·4·5·6·7·8·9·10·11 |
next |
|
|
