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Updated over 4 years ago, 07/21/2020
Accounting for all expenses
Here I will show a list of all expenses and rates that I am currently considering for Single Family Homes,
If I have missed anything at all or if my %'s seem off. Please do not hesitate to share your input as I am hoping to make this list comprehensive and rock solid.
Here is what I have so far,
Closing costs
-Lawyer fee: 100$ -land transfer tax, title insurance: 100$ Estoppel certification, appraisal: 300$ Home inspection: 500$
Expenses
Mortgage, property tax, insurance, Vacancy rate, HOA fees, property management fees: 6-12% ?? repairs/maintenance, water, electrical, gas, lawn care, snow removal, sewer, garbage ?? how do I find this out?
Cap EX
appliances: 8.33$/mo Roof: 16.67$/mo Water heater: 5$/mo Driveway/Parking: 8.33$/mo flooring: 27.75$/mo structure/framing: 16.67$/mo plumbing: 8.33$/mo Components (garage doors/ect): 8.33$/mo paint: 12.5$/mo Cabinets/counters: 12.5$/mo landscaping: 8.33$/mo Total : $153.57/ Mo
I derived the Cap ex numbers from a BP post.
I
am hoping to learn as much as possible from your valuable input, as
well as to start a discussion that everyone can benefit from.
Thanks, And Happy Investing!
PS: I will note that I lack any numbers on what It costs to sell a house// RE agent fees, if I should choose to do so.