07/24/2026
As a Realtor, Iām all about homeownershipābut Iām also all about showing the real numbers so people can make informed decisions.
I bought this home in 2012, and this mortgage statement is from 2014.
My mortgage payment was $655.37/month.
Take a look at the breakdown: only $144.64 of that payment went toward the principal. The rest went to interest, taxes, and insurance. Thatās because mortgages are front-loaded with interest, meaning during the early years, a much larger portion of your payment goes toward interest instead of paying down the loan.
Thatās exactly why I encourage my clients to make an extra principal payment each yearāor spread that extra amount out over 12 months. Even a little extra toward principal can save you thousands in interest and help you pay off your mortgage sooner.
Hereās the bigger picture:
š” Purchase price (2012): $87,000
š Estimated value today: About $336,000
š° Estimated rental income: $2,525/month
šµ Current mortgage payment: $655.37/month
Thatās approximately $1,870/month in gross cash flow before accounting for expenses like maintenance, taxes, insurance, vacancies, and property management.
People often tell me they donāt want a mortgage because they donāt want to deal with maintenance when something breaks.
My response? Neither do I.
Thatās why I have systems in placeājust like your landlord does. Homeownership and real estate investing arenāt about avoiding problems; theyāre about having a plan to handle them.
If youāve been thinking about buying your first home or investing in real estate, letās talk through your options.
Drop a š in the comments or send me a DM, and letās create a plan that works for you.