The Real Estate Financial Planner Blueprint™
17 Nomad™ to Short-Term Rental - 50% Higher Rents
Summary At The End of Month 115
Let's summarize what your position looks like at the end of Month 115 (our last
Properties Owned
The chart below shows the total number of Properties that you own up to and including this month, Month 115.
Net Worth
At the end of Month 115, your overall net worth for the entire Scenario up to this point in time can be summarized by the following chart.
As you can see in the net worth summary above, your net worth for Month 115 is $1,766,863.50.
Rent and Cash Flow
By the end of Month 115 the total monthly rent you are now collecting from all the Properties for this Scenario is $45,049.29 per month. The following chart shows the total monthly cash flow from all the Properties up to this month.
And, if you'd like to see how each individual Property is contributing to the total monthly rent, the following chart shows each of the 9 Properties owned up through this month. Properties without rent (like the one you're living in) are obviously excluded.
Here is how much each of the Properties you are collecting rent on is contributing in net cash flow after expenses (but not including cash flow from depreciation).
Account Balances
If we sum up the Account balances for all the Accounts each month we can see the total balance for each month up through this month, Month 115. Our total Account balance this month is $1,631,531.77 This is after all the income and expenses for the month.
The following chart shows how the total Account balance of $1,631,531.77 for all your Accounts is distributed over your 2 Accounts in Month 115.
Total Equity
The total equity you have in your Properties exceeds $100,000 in Month 115. You have $135,331.73 in total equity as shown in the chart below.
Cash Flow
Your total cash flow for all Properties combined (excluding any Properties you are currently living in and not collecting rent on) is $29,566.19 per month in Month 115. This does include an estimate of cash flow from the tax benefit of depreciation. You can see a summary chart of this below.
Minimum Gross Income Required
The Real Estate Financial Planner™ software does calculations to determine what it believes you would need to be earning in gross income from all sources between you and your spouse (if you're buying together on the loan) to be able to qualify for the loans on Properties.
The software assumes you have no other debt besides your mortgages. If you have car debt, student loan debt, credit card debt or any other debts at all, it will increase this number. While it is not 100% accurate, a rule of thumb to estimate how much more you'll need to earn if you have additional debts is to double the monthly payment. For example, if your car payment is $300 per month, you'd need to add about $600 more per month in income to still be able to qualify carrying that additional debt.
Of course, this calculation is really an estimate and you should discuss the actual requirement with your lender for your specific situation.
The following chart shows you the estimated minimum gross monthly income required to be able to qualify for the current loans you have in the Scenario. For Month 115, you will need to be earning, at a minimum, $0 per month gross (before taxes) between you and your spouse.
Your income from your rental Properties can count toward this as well.
Purchased Typical Detroit, Michigan Nomad™ Property to Short-Term Rental with 50% Higher Rents and Double Maintenace 10 Property
Bought in Month 127
We have a Rule that has you buying the Typical Detroit, Michigan Nomad™ Property to Short-Term Rental with 50% Higher Rents and Double Maintenace 10 Property even if your Account balance in the All-In-One Account Earning 7%/year Account has zero dollars. The following is a chart showing the balance of All-In-One Account Earning 7%/year Account from the start of the Scenario to Month 127 after we've adjusted for all the income and expenses for the entire month.
To purchase the Typical Detroit, Michigan Nomad™ Property to Short-Term Rental with 50% Higher Rents and Double Maintenace 10 Property, we're assuming you're getting a 5% down payment loan. With a $78,225.26 purchase price that means you need to have $3,911.26 for down payment.
The total cost to close must also include the rent ready costs ($0) and closing costs ($782.25) minus any seller concessions ($0).
Description | Amount |
---|---|
Down Payment | $3,911.26 |
Rent Ready Costs | $0 |
Closing Costs | $782.25 |
Seller Concessions | $0 |
Total Cost To Close: | $4,693.52 |
Since this is a Nomad™ Property, you are buying it, moving in and living there for at least a year before renting it.
You are moving into this property, so you are not collecting any rent on this property yet.
Return in Dollars + Reserves
Property | Appreciation | Cash Flow | Debt Paydown | Cash Flow from Deprec.™ | +12 Mos Reserves @ 8% | RID+R12™ Total |
---|---|---|---|---|---|---|
$2,353 | $46,806 | $1,135 | $371 | $1,724 | $52,388 | |
$2,353 | $46,676 | $1,096 | $382 | $1,734 | $52,241 | |
$2,353 | $46,543 | $1,057 | $393 | $1,745 | $52,091 | |
$2,353 | $46,405 | $1,021 | $405 | $1,756 | $51,940 | |
$2,353 | $46,264 | $985 | $417 | $1,767 | $51,787 | |
$2,353 | $46,071 | $951 | $430 | $1,783 | $51,588 | |
$2,353 | $45,389 | $918 | $443 | $1,837 | $50,940 | |
$2,353 | $45,217 | $887 | $456 | $1,851 | $50,764 | |
$2,353 | $45,040 | $856 | $470 | $1,865 | $50,584 | |
$2,352 | $0 | $759 | $0 | $746 | $3,858 | |
Totals: | $23,525 | $414,412 | $9,665 | $3,767 | $16,811 | $468,180 |
* Denotes a property that had no rent for at least part of the period covered. |
Asset Allocation
How are assets allocated? Let's first look at this month.
And how have they looked over time up to this month?
Phases of Financial Independence™
With a Minimum Target Monthly Income in Retirement™ of $5,000 and a Ideal Target Monthly Income in Retirement™ of $8,000 at the time of achieving your
Blueprint™ Menu of Sections
- Introduction
- Accounts
- Properties
- Rules
- Significant Events
- Bought New Dynamic Property Based On Rule Buy Property When Account Has Down Payment
- Bought New Dynamic Property Based On Rule Buy Property When Account Has Down Payment
- Bought New Dynamic Property Based On Rule Buy Property When Account Has Down Payment
- Achieved Financial Independence Goal
- Bought New Dynamic Property Based On Rule Buy Property When Account Has Down Payment
- Achieved Ideal Financial Independence Goal
- Bought New Dynamic Property Based On Rule Buy Property When Account Has Down Payment
- Bought New Dynamic Property Based On Rule Buy Property When Account Has Down Payment
- Achieved 2 X Ideal Financial Independence Goal
- Bought New Dynamic Property Based On Rule Buy Property When Account Has Down Payment
- Bought New Dynamic Property Based On Rule Buy Property When Account Has Down Payment
- Bought New Dynamic Property Based On Rule Buy Property When Account Has Down Payment
- Bought New Dynamic Property Based On Rule Buy Property When Account Has Down Payment
- Paid Off Mortgage
- Paid Off Mortgage
- Paid Off Mortgage
- Paid Off Mortgage
- Paid Off Mortgage
- Paid Off Mortgage
- Paid Off Mortgage
- Paid Off Mortgage
- Paid Off Mortgage
- Paid Off Mortgage
- Final Month Summary
Reports