Case Study... IN MY MARKET AREA... In 1985 you could buy a NICE older home for about $65,000 & rent it out for about $650/mo You put down 20% The interest rate was 12% and discount points were about 7%. You put down $13,000 The discount point cost was $4,550 Normal commission was 7% $4,550 (Seller paid, but it's part of the costs) Other costs were around 1% $650 Total: $22,750 YOUR PAYMENT WAS $534 plus taxes and insurance = $192,600 total payments - maybe break even on the … [Read more...]
Top Reasons To Be Liking Your Rental Property In Atlanta
As we close the books on 2011, we can say it was better year than 2010 for activity in real estate. Prices continued to drift lower for us, primarily brought down by distressed sales. For sales - the outlook isn’t so bright - but all those people are looking for rentals - some may have not so great credit but will prove to be great tenants. Let’s get right to the nuts and bolts of why I believe 2012 is going to be remembered as a great year to buy real estate. Top 10 reasons why you should be … [Read more...]
What Rent Should You Ask?
Setting the asking price fro your investment rental is a important step to maximizing the return on your investment. The right rent attracts the right tenants and helps you to pre-screen your offering. At Northwest Atlanta Property Management, we seek to set the rental rate in such a way that maximizes both interest and profitability. Here are some of the methods that we employ. 1. HUD Website – Fair Market Rents The annual report released by the U.S. Department of Housing and Urban … [Read more...]
