I understand. Please see detailed below...

Thanks miat42! I heard the 1% rule. Based on that, the monthly rent must be $3400 or higher . But in our area and these years, it's not easy to find these kind of houses, except if you go to bad area. But that way you have to deal with bad-credit tenants. Yes, we will put 20% down pay, and are thinking to offer $340K on the house. Below is my calculation (we don't have condo or HOA fee for this house): the highest rent could be $2550 to 2700 per month, which would be our income. But what I have to pay per month are: 1) mortgage: $1710 (based on 6.5% 30yr fixed interest rate for $272K), property tax: $200, water: $100, home insurance $50, maintenance $100, and the loss from the CD interest of $70K downpayment, which is about $300. So the total is about $2460. So I'm almost just in break-even condition. Do you think it's still good to buy?

所有跟帖： 

• see my last post -Wisdom101- ♂ (177 bytes) () 06/05/2008 postreply 08:08:37

• 回复：see my last post -sourbaby- ♀ (317 bytes) () 06/05/2008 postreply 08:13:32

• 回复：回复：see my last post -Wisdom101- ♂ (423 bytes) () 06/05/2008 postreply 08:19:00

• very nice calculation! do you think we should put more down? -sourbaby- ♀ (471 bytes) () 06/05/2008 postreply 08:28:29

• Sorry, I have another 报税问题 -sourbaby- ♀ (80 bytes) () 06/05/2008 postreply 08:36:41

• Depreciation and mortgage cost should offset your income -miat42- ♂ (63 bytes) () 06/05/2008 postreply 09:16:49

• That's good. Thansk a lot! -sourbaby- ♀ (0 bytes) () 06/05/2008 postreply 09:47:45

• NO, no more downpay -Wisdom101- ♂ (1149 bytes) () 06/05/2008 postreply 10:17:56

• thanks so much! You're really wise man. -sourbaby- ♀ (759 bytes) () 06/05/2008 postreply 10:47:59

• Don't waste time predicting the future right now -miat42- ♂ (165 bytes) () 06/05/2008 postreply 10:52:43

• Totally agree! Just sent out offer. please also look my another -sourbaby- ♀ (59 bytes) () 06/05/2008 postreply 10:59:52

• Agree -Wisdom101- ♂ (164 bytes) () 06/05/2008 postreply 11:02:57

• 回复：Agree -linuxman- ♂ (471 bytes) () 06/05/2008 postreply 21:13:25

• Yes I agree that landlording skill is more important than -miat42- ♂ (597 bytes) () 06/06/2008 postreply 06:44:53