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fredezz t1_j6zbx86 wrote

Mr. Wigit builds an apartment as an addition to an existing structure at a total cost of 150k. He borrows the money at a 7.00% fixed rate for 30 years...his payments are approx. $1000 a month w/o other expenses. He would like to make at least a 10% profit on the project ....so he decides that $1500 month would be a fair price....yes or no?

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Armigine t1_j71frp4 wrote

There don't seem to be tons of complaints that there are just too many $1500/mo rents available, even though that's pretty high compared to the average income in state

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