The Real Estate Financial Planner Blueprint™
Southfield, Michigan 20% DP
Purchased Southfield, Michigan Average Property 1 Property
Bought in Month 1
We have a Rule that has you buying the Southfield, Michigan Average Property 1 Property when your Account balance in the Starting with $100K, Earning 7%/year Account reaches $6,510. 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 Southfield, Michigan Average Property 1 Property, we're assuming you're getting a 20% down payment loan. With a $146,200 purchase price that means you need to have $29,240 for down payment.
The total cost to close must also include the rent ready costs ($0) and closing costs ($1,462) minus any seller concessions ($0).
Description | Amount |
---|---|
Down Payment | $29,240 |
Rent Ready Costs | $0 |
Closing Costs | $1,462 |
Seller Concessions | $0 |
Total Cost To Close: | $30,702 |
The monthly rent on this Property is $1,085 per month.
Return in Dollars + Reserves
Property | Appreciation | Cash Flow | Debt Paydown | Cash Flow from Deprec.™ | +12 Mos Reserves @ 8% | RID+R12™ Total |
---|---|---|---|---|---|---|
-$1,843 | -$2,069 | $1,844 | $813 | $1,145 | -$110 | |
-$1,689 | -$1,812 | $1,672 | $745 | $1,046 | -$38 | |
-$1,534 | -$1,560 | $1,501 | $676 | $947 | $29 | |
Totals: | -$5,066 | -$5,441 | $5,017 | $2,234 | $3,138 | -$119 |
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
- Final Month Summary
Reports