{"id":1704,"date":"2021-09-13T09:25:22","date_gmt":"2021-09-13T13:25:22","guid":{"rendered":"https:\/\/fortax.ca\/?p=1704"},"modified":"2022-10-18T21:59:12","modified_gmt":"2022-10-18T21:59:12","slug":"plan-it-out","status":"publish","type":"post","link":"https:\/\/evolvethought.com\/fortax\/2021\/09\/13\/plan-it-out\/","title":{"rendered":"Plan It Out"},"content":{"rendered":"<style>\n.page-title-inner {display: none;}<br \/>\n.entry-header-text-top {display: none;}<br \/>\ndiv#comments {display: none;}<br \/>\n.entry-author {display:none;}<br \/>\nfooter.entry-meta {display: none;}<br \/>\n.subul {margin:0;list-style:revert;}<br \/>\n<\/style>\n<h2>Plan It Out<\/h2>\n<h3>Mortgage Is Not A Dirty Work With Rental Property<\/h3>\n<p>For a property you are considering, calculate the monthly rental income and subtract the expenses. This reveals the cash flow you can reasonably expect. Your FORTAX Financial Advisor can help with this.<\/p>\n<p>In the expense column: along with the monthly mortgage payment, add in 1\/12 of the annual taxes and insurance. Estimate 10% of your rent income if you are<br \/>\nplanning to have a property manager.<\/p>\n<p>Include a vacancy allowance of 3% of the income, to develop a prudent reserve. You want to build up 3-6 months of rent revenue. Estimate repairs and maintenance in the same way, as a reserve toward future repairs. If you are paying the utilities, calculate this from historical records.<\/p>\n<p>The data will reveal your potential cash flow. If it\u2019s projected to be negative, this property is not worth your investment. Without positive cash flow, you risk creating a liability instead of wealth.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>For a property you are considering, calculate the monthly rental income and subtract the expenses. This reveals the cash flow you can reasonably expect. Your Carte Financial Advisor can help with this.<\/p>\n","protected":false},"author":1,"featured_media":1706,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[72],"tags":[138,110,144],"class_list":["post-1704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fortax-blog","tag-cashflow","tag-fortaxwealth","tag-rentalincome"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" content=\"For a property you are considering, calculate the monthly rental income and subtract the expenses. This reveals the cash flow you can reasonably expect. 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