The Real Estate Financial Planner Blueprint™
Farmington Hills, Michigan 20% DP
Purchased Farmington Hills, Michigan Average Property 1 Property
Bought in Month 1
We have a Rule that has you buying the Farmington Hills, Michigan Average Property 1 Property when your Account balance in the Starting with $100K, Earning 7%/year Account reaches $6,756. The following is a chart showing the balance of Starting with $100K, Earning 7%/year Account from the start of the Scenario to Month 1 after we've adjusted for all the income and expenses for the entire month.
To purchase the Farmington Hills, Michigan Average Property 1 Property, we're assuming you're getting a 20% down payment loan. With a $248,600 purchase price that means you need to have $49,720 for down payment.
The total cost to close must also include the rent ready costs ($0) and closing costs ($2,486) minus any seller concessions ($0).
Description | Amount |
---|---|
Down Payment | $49,720 |
Rent Ready Costs | $0 |
Closing Costs | $2,486 |
Seller Concessions | $0 |
Total Cost To Close: | $52,206 |
The monthly rent on this Property is $1,126 per month.
Return in Dollars + Reserves
Property | Appreciation | Cash Flow | Debt Paydown | Cash Flow from Deprec.™ | +12 Mos Reserves @ 8% | RID+R12™ Total |
---|---|---|---|---|---|---|
$549 | -$7,772 | $3,136 | $1,383 | $1,654 | -$1,049 | |
Totals: | $549 | -$7,772 | $3,136 | $1,383 | $1,654 | -$1,049 |
Asset Allocation
How are assets allocated? Let's first look at this month.
Copy Scenario into my Real Estate Financial Planner™ Software AccountBlueprint™ 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
- 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
- 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
- Achieved Financial Independence Goal
- Paid Off Mortgage
- Final Month Summary
Reports