[ex-Texan]

Perhaps you would be happy to buy this house for $ 1,257,000?

The property above is located in Lake View, IL and it is currently on the market for $1,279,000. At a 6 percent interest rate, the financing costs are $7,600 per month. Taxes are currently $6,000 per year and likely to go up to $10,000. However, the property has two tenants, giving a combined income of $2,500 per month, with a contract that continues until April next year.

The first point of our lesson is self-evident. A new owner who buys this property will lose at least $5,000 per month if he rents it out.

Perhaps the answer is in my post.

[lewislynn]

Much to your dismay, one rare example isn't a trend....I noticed it's still for sale, let us know how the new buyers (if any) do, then you MAY have a point.

[Toddsterpatriot]

At a 6 percent interest rate, the financing costs are $7,600 per month.

Actually, the financing cost would be $6,395 per month.

A new owner who buys this property will lose at least $5,000 per month if he rents it out.

You understand there is a difference between negative cash flow and losing money? Maybe not.

[lewislynn]

4woodenboats:

My opinion from reading this thread and looking at your FR homepage is that I concur with them, that your primary use of this site, at least as it relates to this thread is commercial.

ex-Texan:

bs...

Really?

ex-Texan # 125

The first point of our lesson is self-evident. A new owner who buys this property will lose at least $5,000 per month if he rents it out.

Perhaps the answer is in my post.

OUR LESSON?...Who is "our"?