I want to become a student housing landlord, how do I go about it?
about how much money do you think i would need to begin? i live in upstate ny around syracuse. I’m interested in starting, but want to find out exactly how much everything would cost and what license and all i need. thanks
Tagged with: how much money • syracuse • upstate ny
Filed under: How to become a Landlord
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There’s no way to calculate how much it would cost without knowing the purchase price of the properties you want to buy. You buy the property, you rent it out. This is how you should calculate your "cash-flow"
(Rent amount)
x .75 (75%)
___________
(gross rent)
- (mortgage pmt)
____________
(net cashflow)
You use 75% because you need to account for maintenance costs and vacancy factors