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Updated almost 7 years ago,
Looking for some constructive feedback on my numbers
Hey Everyone, I'm new to the forums and really grateful for the wealth of information available here. I listen to the podcasts and read the "BiggerPockets Rental Investing" book along with a few others. My day job is a network engineer at a large IT firm in Manhattan and I am looking to begin my real estate investing portfolio on the side. I live in Brooklyn and would prefer my first property to be within 1hr driving distance.
I found many methods online that people use to estimate certain costs (i.e. vacancy, capex). After which I started an excel sheet to analyze properties on a high level. This is exclusively for initial decision making and once a property looks promising, I would contact my insurance broker, water company etc. and get the exact costs.
I thought to share my sheet for two reasons. Firstly, I'm sure that I’m making many mistakes with these numbers, and would love to hear some feedback and experiences that will change my approach. Secondly, why not share this with other people. You can simply copy the formula to a blank spreadsheet and start using it for yourself. (Keep in mind - all fields highlighted in pink are a formula and dynamically update based on the main numbers that you input.)
https://docs.google.com/spreadsheets/d/1tsOyM0aw07...
Hope you enjoy,
Eli