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Updated almost 6 years ago,
Hello everyone my name is irving
Hi guys my name Irving im located in houston, Tx i'm a new investor looking to get started on my new journey.
A little about me: I'm a single dad, Registered Nurse and a part time student in school. Im here to learn as much as i can about property investing and actually am already filled with questions. I am already at the part in the home buying process where i am applying for loans and need some advice. I have decided on my strategy of buy and hold single family homes, i have decided to manage and fill vacancies myself utilizing craigslist and any other listing site i can come across also by word of mouth (i know a few people who may know some people).
My financial analysis is Capex 7% maintenance 5% and vacancy rate 8% but what i want to know is how much does it cost to hire an outside company to do a deep cleaning between tenants so i can factor in that cost as well? what would this service be called? would it just be a maid service i would call? and what additional expenses between tenants can i expect? do i take those funds from maintenance? What am i allowed and not allowed to do with my "profits"? can i take my spoils and move them from the separate bank account into my own?
Any answers or point in the right direction would be appreciated i have already read the biggerockets guide "The book on rental property investing". I look forward to working and learning from you all
Sincerely, Irving