Updated almost 5 years ago on . Most recent reply
[Calc Review] Help me analyze my first deal - TIA!
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#5 Multi-Family and Apartment Investing Contributor
- Cincinnati, OH
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#5 Multi-Family and Apartment Investing Contributor
- Cincinnati, OH
@Jeff Krasowski, do you have any questions about this deal?
Your vacancy is probably fine, your repairs and Capex are probably dramatically too low, but this also appears to be a condo, so most of your Capex may be handled in the HOA. Otherwise I would budget 10% for each, minimum.
Have you called your lender to get a real quote on a mortgage? Less than 20% down typically entails PMI, which does not seem to accounted for.
Have you called an insurance agent for a quote? $5/mo is too low. $100/mo is more average, but call an agent to get a quote.
Have you calculated real estate taxes for this property at your purchase price? In Hamilton county, OH your number is very low, but you can pull this online with a little research.