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INTERESTED IN INCOME PROPERTY??? 'DO THE MATH' Before You Buy ... If you're ready to become a real estate investor, specializing in one- to four-unit rental properties, it's easy to calculate the CASH FLOW potential of an INCOME PROPERTY. Let me help you ...
First, find out the monthly rental amount for each unit in the rental property. Or you can find out the average monthly rental amount in the area. Next, add the total rents from each unit, plus any extra income, like the laundry room, vending machines, or even carports. Add this to get the total (gross) monthly income.
Next calculate the total monthly expenses, i.e., utilities, landscaping, management, repairs, etc.
Subtract the total monthly expenses from the gross monthly income. This gives you the "NET INCOME." In other words, gross monthly INCOME, MINUS total monthly EXPENSES, equals NET INCOME.
FOR EXAMPLE: If the average rental price for a 1 bed 1 bath in the 90018 area is $1,035.
You want to purchase a 4-plex that costs $549,000. Each unit has one bedroom and one bathroom and rents for $1,035. That's, 4 living units x $1,035 = $4,140/gross monthly rental income. Add that amount to any additional income that the property generates, like laundry room and parking spaces.
Now, if you don't know the actual amont of the monthly "expenses" of an income property, use the
FOR EXAMPLE: $4,140 / .50 = $2,070. It's a quick way to make a guesstimate of the MONTHLY NET INCOME.
Next, multiply the MONTHLY NET INCOME by 12 to get the ANNUAL NET INCOME ($2,070 x 12 = $24,840) for the income property.
Use these calculations to determine if the income from the property will cover your monthly mortgage AND provide an extra cash flow.
Call or text me (213) 444-6168. I'll show you HOW TO DO THE MATH REQUIRED TO BUY A 1- to 4-UNIT RENTAL PROPERTY, with a "CASH FLOW."
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Flanked by the Santa Monica mountain range and bordered by the Pacific Ocean, this paradise is the ideal location for the discriminating home buyer.
Malibu is perhaps the premier beach community in the United States. Malibu beachfront property is glamorous and high desired. Malibu is an exclusive community minutes from the bustling city of Los Angeles via the famous and breathtaking Pacific Coast Highway (PCH). Malibu is comprised of 22 miles of beaches and 45,000 acres of canyons. This makes Malibu a nature lover's paradise.
The Los Angeles Southwest area consists of the area bounded on the west by Western Ave., on the north by Jefferson Blvd., on the east by the Harbor Freeway, and on the south by Florence Ave. It abuts the areas of Mid Los Angeles, Downtown Los Angeles, Metropolitan Southwest, and Park Hills Heights.