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re: Could you help me understand taxes and my rental property?

Posted on 3/11/16 at 9:43 am to
Posted by jimbeam
University of LSU
Member since Oct 2011
75703 posts
Posted on 3/11/16 at 9:43 am to
quote:

My tenants pay $1250/month for rent, and my total mortgage payment (including taxes, insurance, PMI, etc) is $1120.
i know nothing about RE, but this seems like a terrible ratio. Unless that includes repair and such...
Posted by StringedInstruments
Member since Oct 2013
18504 posts
Posted on 3/11/16 at 9:45 am to
quote:


i know nothing about RE, but this seems like a terrible ratio. Unless that includes repair and such...



I'm an accidental landlord. It's priced for the area, but there's not much I can do about the mortgage especially thanks to PMI.
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