First property

Updated

01.10.2018

This is the first rental property in my real estate portfolio. It has 2 apartments and both are rented out.
My first rental property

Purchase

Property price: 139.470€

Down payment: 13.422€
Registration of property: 554€
Mortgage ownership transfer fee: 671€
Banking fees: 1.068€
Lawyer: 2.097€
Building expert: 268€

Total cash used to buy this property:  18.080€

Debt

Mortgage: 112.137,11€
Bank credit: 4.254,85€

Monthly cash flow

Rental income per month: 1.462€
Mortgage payments per month: 467€

Result: 995€

Monthly income (expected)

Cash flow per month: 995€

Estimated expenses per month, including property taxes: 335€

Result: 660€

Maintenance account 2018

Budget: 335€ per month, starting from 01.02.2018 = 3.685€

Expenditure:

05.03.2018: New bracket for a kitchen door: 16€
05.04.2018: Collection of household waste (6 months): 141€
25.04.2018: Lawn mower: 255€
07.05.2018: Petrol for the lawn mower: 7€
21.06.2018: New oven: 335€
28.06.2018: Property taxes: 194€
28.07.2018: Gardening tools (rake, spade and gloves): 45€
08.08.2018: New dish washer: 577€
17.09.2018: Garden sprayer + weed control: 22€
01.10.2018: Weed control: 3€

Current Year to Date expenses: 1.595€