The Real Estate Financial Planner Blueprint™
Grand Rapids, Michigan 20% DP
Purchased Grand Rapids, Michigan Average Property 1 Property
Bought in Month 1
We have a Rule that has you buying the Grand Rapids, Michigan Average Property 1 Property when your Account balance in the Starting with $100K, Earning 7%/year Account reaches $5,370. 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 Grand Rapids, Michigan Average Property 1 Property, we're assuming you're getting a 20% down payment loan. With a $131,700 purchase price that means you need to have $26,340 for down payment.
The total cost to close must also include the rent ready costs ($0) and closing costs ($1,317) minus any seller concessions ($0).
Description | Amount |
---|---|
Down Payment | $26,340 |
Rent Ready Costs | $0 |
Closing Costs | $1,317 |
Seller Concessions | $0 |
Total Cost To Close: | $27,657 |
The monthly rent on this Property is $895 per month.
Return in Dollars + Reserves
Property | Appreciation | Cash Flow | Debt Paydown | Cash Flow from Deprec.™ | +12 Mos Reserves @ 8% | RID+R12™ Total |
---|---|---|---|---|---|---|
$1,222 | -$1,250 | $1,661 | $733 | $934 | $3,301 | |
$1,120 | -$1,076 | $1,509 | $672 | $855 | $3,080 | |
$1,019 | -$905 | $1,357 | $612 | $775 | $2,856 | |
Totals: | $3,361 | -$3,231 | $4,527 | $2,017 | $2,564 | $9,237 |
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
- Achieved Financial Independence Goal
- 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