Second property

Updated 05.04.2020

This is my second rental property in my real estate portfolio. It has 2 apartments and an ATM. They are all rented out.

Purchase

Property price: 217 922€

Down payment: 56 995€
Registration of property: 768€

Banking fees: 805€
Lawyer: 2012€
Building expert: 620€

Total cash used to buy this property:  61 200€

Debt

Mortgage: 156 548€

Monthly cash flow

Rental income: 2 354€
Mortgage payment: 595€
Property tax: 90€
Property management fee:
31€

Estimated expenses (20% of rental income): 471€

Result: 1 167€

Property value

Maintenance account 2020

Budget: 471€ per month: 5 652€
Unspent budget from 2019: -4 405€
Total budget for 2020: 1 247€

Expenditure:

04.01.2020: New mail box: 13.5€

Current Year to Date expenses: 13.5€

Maintenance account 2019

Budget: 469€ per month
Total budget for 2019: 2 814€ (6 x 469€)

Expenditure:

25.10.2019: Sewer flushing: 126€
20.11.2019: New furnace: 4 496€
21.11.2019: Bathroom windows were changed, 2 new air vents were built into the living- and bedroom, 4 old windows had their rubber strips changed and a front door had it’s lock and handle changed: 2 597€

Total expenses for 2019: 7 219€