/biz/ - Business & Finance

Anonymous Mon Jun 15 17:31:55 2020 No.19738749 [View]
File: 1.42 MB, 1280x720, 1591888497367 (4).webm [View same] [iqdb] [saucenao] [google]

>buy $170,000 house
>FHA loan
>3.5% down ($7,000)
>plus MIP (.85% of loan) = $1,450
>mortgage, PMI, insurance, taxes = $1,100
>live in house for 1 year, refinance (can't rent out an FHA)
>refinance costs = $4,000
>total out of pocket = $12,450
>rent house for $1,600/month
>$6,000 in cashflow a year
>making 48% annual ROI
>not including the equity the tenant is building you

Just LMAO @ everyone who hasnt taken the Real Estate pill

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/biz/ - Business & Finance

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