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Updated almost 10 years ago on . Most recent reply
What are some easy ways to estimate costs when analyzing B&H properties?
What are some easy ways or rule of thumbs to estimate costs when you analyze a buy and hold property? It could be a website, or a percentage of the property or rent price, or a fixed price, etc.
Please use the following template when responding:
- Rent:
- Closing Costs:
- Insurance:
- Property tax:
- Utilities:
- Property management fee:
- Vacancy:
- Repairs/capital expenditures:
- Other rule of thumbs you can think of:
An example:
- Rent: Rentometer.com, Zillow, Padmapper.com
- Closing Costs: $5000
- Insurance: ?
- Property tax: Zillow
- Utilities: ?
- Property management fee: 10% rent
- Vacancy: 10%
- Repairs/capital expenditures: 20%
I'm trying to figure out easy ways to analyze properties on a first pass (before narrowing down and getting more accurate numbers).
For example, I've never purchased a property before so I have no idea how much I should add for the closing costs. Is there a way to estimate it based on the price of the property, or do they usually tend to be x thousand dollars?
I also think it'd be interesting to see the different percentages different people use for vacancy, property management, or repairs.