Since we said from the beginning that we are talking about business, we assume that you are not going to see your property as the space in which you will live, but as an asset that you will get the most out of.
So if you consider putting a rental house in Florida like CARLOTA on a fixed-term lease, you can get up to $1,800 a month from your tenant.
If you allocated $1,400 to pay your credit, you would still have $400 free, which you could keep for various expenses, or very intelligently allocate for payment of interest or capital payment of your credit, which would progressively reduce the time of the same, or the amount of your monthly installments as you choose.
Now, if you decide to use your property for “long term rental” or “seasonal rent”, for example in “summer” or “spring break”, you could get up to $4,000 for each month, you would allocate $1,400 to pay your credit and you would have $2,600 leftover that you could use to pay off your debt to pay it off sooner.
We could say that only in the summer, you could get the returns of a whole year of fixed income.
The rest of the year in low seasons like winter, you could get up to $2,000 a month or $200 a day, if you decide to register your property on Airbnb for “short term rental” or “vacation rental”, for the early birds, those who desperately seek to escape regardless of the winter weather of their cities of origin.
To obtain the same information, based on the data of a property like ISABELLA, we invite you to use our mortgage calculator, and to read our blog HOW TO SAVE MONEY ON THE PURCHASE OF YOUR NEW HOME?
As you can see, the business is viable, profitable, and hassle-free! At Efficient Developments Group, we are prepared to accompany you in every step of the process, giving you personalized advice with which we will make your life much easier.