Los Angeles opex rules of thumb?

[Jon Schwartz]

Hi all,

Angelino new to the LA market here. After focusing out-of-stage, I'm determined to make the LA market work for me!

What percentages do you LA investors use when estimating opex while underwriting a property? I typically use 10% for maintenance/repairs and 5% for capex in cheaper markets, but I feel like those percentages must be lower here.

Any input would be appreciated. Thanks!

Best,

Jon