WALT FLOOD REALTY - CASH FLOW (Vacation Rental)
One Bedroom Condo at the Waikiki Banyan
Purchase Price:					$   225,000.00
Downpayment:		40%			$     90,000.00
FirstMortgage:		(30 years)			$   135,000.00
				GROSS	Operating	NET
				Income	Expenses	Income
Monthly Rent ($595/week):				$  2,578.00
Mortgage Payment (6%)					$           809.00
Vacancy Factor (20%)					$           515.60
Rental Agent commission (25% + GET)					$           537.09
Condo Association Fees:					$           240.00
Real Property Taxes:					$             65.00
Telephone service (local calls)					$             30.00
Advertising & Ad. Fee					$             98.96
Insurance & Misc. (2.5%)					$             64.45
				________	_________	__________
		Monthly TOTALS:		$  2,578.00	$        2,360.10	$     217.90
		Annual TOTALS:		$30,936.00	$     28,321.14	$  2,614.86
		Return on Investment:				3%
Assumption: Six months of High Season & six months of Low Season. Daily of $95 & $75 = $85 average.
Vacancy rate of 10% during High Season & 30% during Low Season = 20% average.
Note: The above figures are for illustration purposes only, and do not represent actual properties.
Walt Flood Realty makes no claims about the correctness of the computations, or their source.
Finally, the "Return on the Investment" could be enhanced by the prospect’s income tax deductions
(interest on the mortgage, and depreciation of the property).
Sept. 3, 2003