Deal Analysis; Finding Expense Cost

[Deven L. Richardson]

Hi BP,

I'm currently learning how to analyze properties so I can be more confident when offering on deals. I have one question though, how do you get estimates for utility cost i.e. electric, water, gas, garbage? I know the books say to contact local PSE&G, insurance agent, etc. but do I need to have a specific property in mind or could I just ask for the average in my respective market? 

Thanks for whoever answers and always looking to connect!

[Cameron Moore]

Have a relationship with an insurance broker. They have more flexibility than captive agents, just make sure they are in the area of the property so that they understand the market. You can send a broker an address you are looking at (or multiple) and have them weigh the differences in rate vs cash flow.