[All You Can Analyze Weekend] @ Kansas City, MO

[Michelle Harrington]

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Hi Bigger Pockets Community! May I get an input about this property please? Anything would definitely appreciated!;)

[Tim Herman]

@Michelle Harrington How did you arrive at your variable costs? Vacancy of 3% is your tenant staying an average of 33 1/3 months. I use 8% or 1 turnover per year. My average cost for service is $150. It would take 5 months of reserves to pay for a service call. I like to build this reserve up to take care of painting between turnovers. My minimum is $50 per month. What is in your capex budget? Mine includes roof, floors, hvac, appliances, hot water heater, bath remodel, and kitchen remodel, etc. Does $50 per month cover all those items. Let]s look at floors. 10 year life span. Assume 1500 sf of flooring. My area it is $6 sf to replace with a moderate cost lvp. $9000/10 year life span/12 months in a year=$75 per month for 1 item. My minimum is $100 per month.