How do you work out CapEx without viewing the property in person?

[Amandeep Singh Bassi]

I'm just wondering, how exactly do you work out how much you need to save monthly on your Capital Expenditures without viewing the property in person when you are trying to analyse a deal? 

[Michelle Gerac]

I usually do a 5% for a newer property, and 10% for anything prior to 1990 as an initial analysis. Sometimes I even factor 15% if it looks like it has obvious problems. Once an inspector views the property during the option period, you should be able to tighten the figure a little like @Aj Parikh said. That being said, I have a property I lease out that was built in 2007 and I spent more than 10% last year. It was flood damaged and renovated though, so I did budget a little extra for it. This year should be closer to 5%