average buying, holding, and selling costs?

[Patrick B.]

Hey there,
I just finished reading a book in which the author laid out his average buying, holding, and selling costs for his rehab/flips. He says, on average, his expenses over the years have looked like this:

Buying costs are generally 1.5% of the selling price
Holding costs (utilities, taxes, etc) are usually 1.5% of the selling price
Selling costs are generally 6.5% of the eventual selling price, after repairs

He projects the months required for rehab work (holding time) with the following formula:

Rehab cost per square foot, divided by 10 + 2.5 months to market & sell

Do you guys think these numbers are accurate? I would be interested to hear how these projections stack up with your personal investment experiences.

Have a good one,
Patrick