I have made a simple financial calculator to maximize your financial gain for real estate type of investments. This Microsoft Excel mortgage vs savings calculator (sheet 1 and 2) can be used to estimate how much and for how long one should borrow money from the bank without significant losses.
It allows to estimate various cases, whether you live in a rental property or pay the rent yourself, save cash in the bank or rent out the investment property.See for yourself - adjust the numbers such as salary, monthly living expenses, rental income (when mortgage is taken) and rental expenses (when saving cash and living in a rental) etc.
I just found a nice video clarifying the same idea:
ReplyDeletehttps://www.youtube.com/watch?v=mtL_plJXv3c
and here is the spreadsheet for download:
http://www.khanacademy.org/downloads/buyrent.xls
This is important to be read… author has actually nailed the topic and have highlighted all the important points with outstanding explanation.
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