Accounting for all expenses

[Steven Holt]

Hi, Pretty new to BP, I want to share some ideas about due diligence and hear feed back from the community.

Here I will show a list of all expenses and rates that I am currently considering for Single Family Homes,

If I have missed anything at all or if my %'s seem off. Please do not hesitate to share your input as I am hoping to make this list comprehensive and rock solid.

Here is what I have so far,

Closing costs

-Lawyer fee: 100$ -land transfer tax, title insurance: 100$ Estoppel certification, appraisal: 300$ Home inspection: 500$

Expenses

Mortgage, property tax, insurance, Vacancy rate, HOA fees, property management fees: 6-12% ?? repairs/maintenance, water, electrical, gas, lawn care, snow removal, sewer, garbage ?? how do I find this out?

Cap EX

appliances: 8.33$/mo Roof: 16.67$/mo Water heater: 5$/mo Driveway/Parking: 8.33$/mo flooring: 27.75$/mo structure/framing: 16.67$/mo plumbing: 8.33$/mo Components (garage doors/ect): 8.33$/mo paint: 12.5$/mo Cabinets/counters: 12.5$/mo landscaping: 8.33$/mo Total : $153.57/ Mo

I derived the Cap ex numbers from a BP post.

I am hoping to learn as much as possible from your valuable input, as well as to start a discussion that everyone can benefit from.

Thanks, And Happy Investing!

PS: I will note that I lack any numbers on what It costs to sell a house// RE agent fees, if I should choose to do so.

[Jon Reed]

I would say you may be a bit far in the weeds for Cap Ex... I have found that basing expenses as a % of property value is a better estimate than trying to find exact dollar figures. 

For myself, after our first property I tossed out all of my original figures and started fresh with real world figures. So, don't get stuck trying to make all of these perfect because you will constantly be updating them as you learn more and adapt them to fit your market.