(Site Map) Call Paul at: 609-967-3001
Paul@iLoveSeaisle.com (online since 1999)
Proud Member of the Mav & Company Team - Long & Foster Real Estate - Avalon, NJ Office
Long & Foster Real Estate - Avalon, NJ Office
2997 Dune Drive, Box 10 Avalon, NJ 08202
Tips for Buying in a Buyers Market Why Invest In Real Estate?
(Link to: FOR SALE) Real Estate Market Statistics (Link to: NEW CONSTRUCTION)
Use summer rental income to offset expenses. Most 4+ bedroom properties rent weekly for about $3,000.00 to $8,000.00, depending on the property amenities, the rental week, and the location to the beach.
$925,000 purchase price
720,000 first mortgage (80%) 4.5% principal and interest payment $3,648.17
$46,250 home equity line of credit interest only prime plus 3% (approx) $240.88 per month
Total principal and interest payment $3,889.06
You need to add taxes and insurance to the above figure
Gross rental income $5,000 per month
$700,000 purchase price
$560,000 first mortgage (80%) principal and interest payment $2,837.46
$35,000 home equity line of credit prime plus 3.5%(approx) $196.88 per month
Total principal and interest payment $3,044.34
You need to add taxes and insurance to the above amount
Gross rental income is $3,333.33 per month
Looking at the above the first scenario offers buyer more income.
Please let me know how you would like to proceed.
All information on this web site is deemed to be accurate but NOT guaranteed.