What’s the basic formula to determine holding costs on a property? Also, how are closing costs determined as well?
mortgage payments + taxes + hoa fees[if any] + utilities +marketing fees = holding costs on a vacant property. factor more if doing rehab.
closing costs are usually commissions [between 3-6%] plus escrow
and title insurance.
Thanks.
I’m new, what are HOA fees?
Home Owners Assocation fee’s can be a real pain.
I gotcha, thanks for the help.
It’s your share of the payment for the yard/paint Gestapo!
Keith