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Mortgage Search News: Odell Barnes
Odell Barnes

Foreclosure King Gives Back

When "Nightline" correspondent Vicki Mabrey first interviewed Odell Barnes, he was making a fortune in the foreclosure market. Fast forward deeper into this real estate crisis, and Barnes is still making money, but is now focused on helping many Americans move into those houses that would otherwise remain vacant. And he believes the government could learn a thing or two from his business model.
Ref. ABC Nightline
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Investment Mortgage Calculator
INSTRUCTIONS
A guide to possible financial outcomes of the purchase and renting of an investment property. After entering your values, click once in any result box to calculate or update the results.
ENTER TRANSACTION DETAILS
Purchase Price ($) Homeowners Insurance ($)
Down Payment ($) Yearly Taxes ($)
Loan Interest Rate (%) Monthly expenses/
Maintenance fees ($)
Loan Term in Years    
Monthly Rental ($)    
Rent Increase Yearly (%)    
Inflation
(for ins, taxes, expenses) (%)
Your Gross Income
(for tax calculation) ($)
Property Value Growth
(real estate appreciation) (%)
     
RESULTS
Loan Amount ($)
Monthly Payment ($)
INCOME Year 1 Year 2 Year 3 Year 4 Year 5
Rental Income
EXPENSES
Insurance
Taxes
Monthly Expenses/Fees
Interest Expense
Total Expenses
TAX DEDUCTION
Cash Flow
Depreciation
Total Tax Deduction
           
TAX SAVED
AFTER TAX CASH FLOW
Principle Paid (est)
PROPERTY VALUE
Yearly addition to
Net Worth
Assumptions: 
* 2000 Federal Filing Status Single  (most conservative tax rate)
* 27.5 yr straight line depreciation
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