John DL Arendsen, Crest Backyard Homes "ADU" dealer & Contractor  (CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS)

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Rainmaker
1,203,987
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Your financial adviser or tax accountant or good old legal tablet & pencil.  My dad could have done it in his head

Sep 01, 2016 11:24 PM
Rainmaker
4,274,496
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

John

Ron did that on his HP calculator. and I think that you have excellent suggestions here.  A

Sep 02, 2016 12:19 AM
Rainmaker
1,364,117
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

John DL Arendsen Here's a link to an Excel spreadsheet that may work for you.

oregonstate.edu/instruct/ans440/Files/Leasebuy.xls

Sep 01, 2016 11:56 PM
Rainmaker
903,761
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

I had my lender and my CPA coolaborate on a short slide Powerpoint for me.

Sep 01, 2016 11:53 PM
Rainmaker
2,853,045
Richard Weeks
Dallas, TX
REALTOR®, Broker

Our MLS software (Matrix) has a feature where you can generate a report that will show you the advantages of buying vs renting.

Sep 01, 2016 11:50 PM
Ambassador
1,613,368
Harry F. D'Elia
Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

the have apps for this one

Sep 01, 2016 11:46 PM
Rainmaker
1,523,282
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

I would contact a trusted mortgage banker or broker.

Sep 01, 2016 11:32 PM
Rainmaker
1,204,273
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Looks like Michael Setunsky has a great spreadsheet linked and Ken Jones has one for you too.

 

My view: I look at what someone could get a mortgage on a home for versus what they're paying in rent.  A big enough difference and it makes sense.

Sep 04, 2016 04:26 AM
Rainmaker
1,471,435
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

Just google Rent vs Buy and there only zillions of charts/images to choose from. I collected a lot of them on my pinterst board.  

Sep 02, 2016 03:52 PM
Ambassador
4,297,836
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

John DL Arendsen - there are a few, including Mortgage101. (And sure enough Ken may have sent you the spreadsheet by now.)

Sep 02, 2016 02:59 PM
Rainmaker
2,394,627
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Doesn't the NAR put out a pamphlet on this?

Sep 02, 2016 12:52 PM
Ambassador
4,005,723
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

How indepth do you want to get with this John, easy to make your own.

Sep 02, 2016 05:19 AM
Rainmaker
3,130,994
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

I use paper and a calculator for a rough idea. Double checking with an accountant can't hurt!

Sep 02, 2016 12:39 AM
Rainmaker
4,796,409
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I would think a spread sheet would be the best.

Sep 02, 2016 12:37 AM
Rainmaker
4,830,794
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

that's what accountants are for..... and each financial picture results in a different bottom line....

Sep 02, 2016 12:33 AM
Rainmaker
1,512,008
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

I like using the local numbers right out of the mls. 

Sep 01, 2016 11:55 PM
Rainmaker
3,048,869
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

parked and reading...

Sep 02, 2016 10:08 PM
Rainmaker
5,219,530
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Use your financial calculator.

Sep 02, 2016 08:57 PM
Ambassador
3,671,820
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

I've seen this app on lenders' web sites.

Sep 02, 2016 10:35 AM
Rainmaker
3,975,208
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Really explainiing that the costs for the owner are about the same as for a buyer and that renting you are paying for the house for the owner.

Sep 02, 2016 05:48 AM
Ambassador
3,024,919
Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

 Many coaches and seminars can show you the way on this topic. ..

Sep 02, 2016 04:31 AM
Rainmaker
2,413,880
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Rents are found in classified for rent ads and buy data MLS. Also, a good loan officer can show payments, money done, costs etc.

Sep 01, 2016 11:19 PM