How to Calculate Your Daily Project Costs

As the market changes and it takes longer to sell a property, keep your daily costs in mind when you are looking at offers or considering a reduction. This is especially important if you have a hard money loan. How do you calculate the daily cost? You need the annualized amounts for all of the following: Interest, Utilities, Maintenance, Insurance, and Property Taxes. Add them up and divide that number by 365. Don’t be surprised if it’s costing you over $100 a day to hold that property.

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