Quote:
Originally Posted by hmmhmmcamo
No apology necessary. I don't think you sound arrogant, I just think you're not really telling the whole financial story.
What about the costs for the things I mentioned in my post above, like maintenance, strata fees, property taxes, insurance etc.? Have you allowed for any possible vacant months or problem tenants?
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My numbers come from my tax return where I do everything possible to reduce my profit including deducting everything that you mentioned. I still showed a profit at the end of the year.
I am sure that in the future I will have to deal with vacant months as well as repairs that will hit my profits. The house is pretty new right now though so nothing has come up yet. At some point though I will have to replace the furnace and a dozen other things will come up which may change my outlook in the future.