Invest In Real Estate – Use a Rental Income Property Calculator to run the Numbers.
Leveraging the Rental Income Calculator is a must do before purchasing a property. It helps you determine the maximum price you are willing to pay for a property. It also helps you determine what type of returns you can expect from your property.
Below you can adjust a lot of fields to meet the expected costs of a rental property. Some of the fields include mortgage rate, purchase price, closing costs, PMI, etc. Make sure you account for property management, even if you plan on managing the properties.
Staying overly conservative is always good practice when using a calculator since you want to ensure you can get good returns from your investment.