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Updated over 3 years ago on . Most recent reply

User Stats

30
Posts
12
Votes
Ryan Kenneth
  • Investor
  • Vancouver BC
12
Votes |
30
Posts

Pencilling in expenses with little building info?

Ryan Kenneth
  • Investor
  • Vancouver BC
Posted
Hey Canadian BP'ers,
I need help penciling in expenses as a best guess before potentially making an offer on a building in Moncton NB that is larger than I've owned in the past. I have yet to walk the building (I've seen some pics and it looks decent inside) nor do I have details yet that insurance brokers typically ask for.

The building:
-14 unit, brick exterior, 70-80 years old, older wooden windows, hot water rad heating

Expenses I need help with:

Insurance:

Cleaning:

Garbage removal:

Hot water rad heating:

Hoping to leverage your guys and gals experience on this one to get a rough idea.

Thanks!

Ryan

Most Popular Reply

User Stats

520
Posts
527
Votes
Chris Baxter
  • Rental Property Investor
  • Port Coquitlam, BC
527
Votes |
520
Posts
Chris Baxter
  • Rental Property Investor
  • Port Coquitlam, BC
Replied

@Ryan Kenneth  I'd suggest reaching out to your PM to help estimate expenses for a prospective property.  Here is what I have for costs on a 22 unit building in Moncton:

Insurance: $7500

Cleaning (common areas, with 4 entrances, 3 stories): $1,000

Garbage removal: $4,000

Radiant heating.... only applies to 3 units in the basement, so not comparable.

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