|
The mortgage would be less then $16,000.
Sale price $2.4m, $600,00 down payment
principal & interest (6%, 25 yrs. on $1.8 mil) ==> $11,597/mo
taxes==============================> $ 3,000/mo
insurance===========================> $ 1,000/mo
__________________________________________________ __
Total $16,000/mo
$16,000 / 18 bedrooms = $ 888.00/mo.
With only 18 people, you can rent this out every other week in the summer and pay for the mortgage plus have another $888. for the winter months when not being used and have two weeks for yourself free.
This is not a bad deal except for the down payment. Maybe the owner will do financing.
|