Help Me Analyze My First Triplex Please!....and thanks

[James Lusk]

Hi BP! My wife and I just reached mutual acceptance on an off market triplex in Tacoma, WA. I would love to hear some community feedback/constructive criticisms you may have. 

We are purchasing this property with the intent of eventually doing a 1031 exchange into a small apartment complex (within 7-10 years). 

We haven't had the inspection yet, nor have I verified the seller's rent roll or expenses other than property taxes. I have factored in 5% for vacancy, capex, and maintenace. 8% for property management. The property is a turn of the century home as most are in the area that this triplex resides. Do any of you have any thoughts as to how much to set aside for maintenance on these older properties? Here's the link for the breakdown.

https://www.biggerpockets.com/calculators/shared/348735/9aa3c6dd-ac72-428e-baad-bc5c78301ba1

Thanks in advance for your input!

[Shelley Greene]

Hi James,

I'm a newbie, but the things you're talking about are all the same things I've been reading about, so it sounds like you're on the right track. When I feel educated enough, I'll also be looking to buy and hold multi-family properties in Tacoma. Keep me in mind when you start looking for partnerships!

@Brandon Turner just did a great webinar this week on investing in older rental properties. I'd check that out as a starting place for concerns you have about maintenance:

https://www.biggerpockets.com/proreplay

I hope the inspection goes well for you!

Shelley