http://btcf.ngifford.com/2006/10/11/income-statement-property-2/?utm_source=rss&utm_medium=rss&utm_campaign=income-statement-property-2 Just another WordPress weblog Sun, 17 Apr 2011 15:44:55 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://btcf.ngifford.com/2006/10/11/income-statement-property-2/#comment-24 Reader Question #1 « Bring the Cash Flow Sat, 18 Nov 2006 16:25:10 +0000 http://btcf.ngifford.com/?p=19#comment-24 [...] I guess I am lucky because the city I live in is heavily populated by students, and enjoys relatively low real estate prices.  The average home in my city costs approximately $250,000 CDN, but you can find town-homes and a lot of smaller homes in the $150,000 range.  My first home is a war-era home converted from 3 bedrooms to 5 bdrm, 2 bath.  My second income property is a 3-bedroom townhouse converted to 5 bedrooms.  Furthermore, I charge per bedroom since I am renting to students. This works out to $2000/month rent.  Expenses are kept low ($1200-ish) including mortgage payments due to the low cost of the homes, so the mortgage payments are reasonable. [...] [...] I guess I am lucky because the city I live in is heavily populated by students, and enjoys relatively low real estate prices.  The average home in my city costs approximately $250,000 CDN, but you can find town-homes and a lot of smaller homes in the $150,000 range.  My first home is a war-era home converted from 3 bedrooms to 5 bdrm, 2 bath.  My second income property is a 3-bedroom townhouse converted to 5 bedrooms.  Furthermore, I charge per bedroom since I am renting to students. This works out to $2000/month rent.  Expenses are kept low ($1200-ish) including mortgage payments due to the low cost of the homes, so the mortgage payments are reasonable. [...]

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