Rental Property Worksheet

 

Type of property and management of that property

 

Discuss and decide what type of property you want to own and whether you will manage it or hire a professional to do so.

Townhome/condo   __  Single Family Detached Home ___

Self Managed         __  Professionally Managed ___

 

Purchase price Calculation

 

Use the amount you have for a down payment to calculate the purchase price

__________Down payment amount

__________Purchase price based on down payment (down payment divided by ____ % required by lender)

 

Search Locations

 

Identify areas where properties can be purchased for amount calculated above

______________/_______________/______________/_______________/_______________

 

Cash Flow Analysis

 

Property 1 _______________________________________

Description – Bedrooms/ Baths/ Parking/ Amenities/ Other Features

_________________________________________________________________

_________________________________________________________________

Income

______ Projected Rent

Expenses

______Mortgage (P&I)

______HOA

______Management fee if applicable

______Active Maintenance (i.e. landscape service)

______Insurance (physical damage)

______Insurance (liability)

______Taxes

______Maintenance Escrow

______Capital improvement escrow

______Advertising

______Utilities

______Legal & Accounting expenses (i.e. lease & tax return preparation)

______Move in/out expenses

__________Total Expenses

 

Rent minus Total Expenses

__________Net Income/Expense

 

Summary/ Notes

 

___________________________________________________________________________________________

 

Options

 

Increase or reduce down payment. May benefit via interest rate reduction plus lower P&I payment

Calculations ___________________________________________________________________________

Increase or decrease financing term.

Calculations ___________________________________________________________________________

 

Initial Offer Price         _______ (highest cash flow)

Maximum Offer Price  _______ (lowest acceptable cash flow)

 

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