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Updated over 4 years ago, 07/21/2020

User Stats

8
Posts
1
Votes
Steven Holt
  • New to Real Estate
  • Canada, BC
1
Votes |
8
Posts

Accounting for all expenses

Steven Holt
  • New to Real Estate
  • Canada, BC
Posted
Hi, Pretty new to BP, I want to share some ideas about due diligence and hear feed back from the community.

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.

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