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Hi everyone
Question for nordicskier:
“So what if you successfully got it for say $115K, divide by 2 (58) and multiply by 3 (168) so it will cost $168 per week in mortgage payments and a bit towards rates etc. So you increase the rent to $170 and see what happens or purchase for $100k ( /2 then X 3 = 150) that would be cash flow positive.”
Could you please explain this working out a bit more? Why do you divide by two and multiply by three? I’m interested to know just what you mean and how this could become positive cash flow.
Sorry if this seems like a stupid question but I’m a newbie to the world of property investment (or I should say I have been studying as much as I can about it for quite some time but now it’s time to take action so I’m eager for any information I can get hold of.)
Thanks
Paul
