My first offer accepted on an SFH! Financial Modeling gut check?

[Lindi Nguyen]

Just got an offer accepted on my first investment property!! Anyone care to take a glance at my financial modeling - see if any errors jump out at you?

https://docs.google.com/spread...

[Tim Herman]

@Lindi Nguyen Hard to tell if your repair and capex numbers are sufficient. You are using my bare bones for repairs and capex. Have you run a repair budget or a capex budget? An example for a repair budget. Cost to turnover a property + repairs for minor items(leaky faucet, clogged drain, appliance not working, etc). Assume $1500 every 3 years to repaint or refresh the unit + 1 minor repair per year, average $150. $1500+$450=$1950/36 months= $54 per month. If this is a duplex then double the cost.