In this episode, we discuss the crucial elements of a property investment cashflow statement and compare 2 different cashflow statements for the same property – one for a standard residential lease and the other as an AirBNB.
The core costs on any cashflow statement are:
- interest costs
- property management
- rates
- maintenance
- accounting
- insurance
- body corporate / residents association fee
- letting fees
Airbnbs will also have internet and electricity, as well as higher maintenance and interest costs as you will need to provide additional chattels within the property.
We also talk about the property investor quiz, this 7-question financial quiz will give you a full report on your numbers, as well as a 'yes', 'no', or 'maybe' answer as to whether you are in a position to invest in property right now.
The Property Academy Podcast