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LegalLife Multistate Guide and Handbook for Selling or Buying Real Estate Illinois Form

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LegalLife Multistate Guide and Handbook for Selling or Buying Real Estate Illinois Form

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[Music] this is how much i make on this rental property this is the first property i ever bought and i bought it in 2012. so i bought it at 241 000 and i put in a down payment of 25 which was about 60 250 and don't forget closing costs i put another 13 000 for renovation so the current rents is 250 per month and property management fees are eight percent which is 164 dollars per month mortgage is 870 per month property taxes are 290 per month and homeowners insurance is about 50 per month so subtracting everything i get about 676 dollars per month so i've held on to this property for like eight years now i don't really get too many repairs and vacancies it's all been really passive but if you wanted to we can allow 10 for that so even if it were that high 10 look at how much it can add up to after eight years of cash flow and on top of that zillow is saying the property is worth five hundred four thousand dollars now so if i were to sell it right now i w

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