Starting Expenses

[Tiara Murray]

I am just starting out, and right now I am trying to figure out what I should include in my monthly expenses. I want to know what your average monthly expenses were when you started, and what did it include? Here is what I have so far:

Broadband internet (to quickly upload video tours of houses)
Cell Phone
Voice Mail service
Internet (for home office)
Bandit Signs
Biz Cards
Subscription Services (RealeFlow, RealtyTrac, etc)

I know I am missing a few things, but my brain seems to stop working when its tired lol (but BP wont let me get any rest)

What else should I add to this list?

Tiara :mrgreen:

[J Scott]

Some more things to consider:

If you plan to get your RE license, expect to pay monthly fees to your broker, as well as annual fees to the MLS and potentially your local board of realtors.

If you plan to rehab, you're going to want some basic tools (even if you hire contractors to do the work).

If you plan to network, have money set aside to take investors to lunch.

If you plan to do a lot of deals, you probably want to set up a corporate entity and ensure that you have liability insurance.

If you plan to get your license, you'll need a fax machine and dedicated fax line or a fax service to send and receive offers.

If you plan to get your license, budget for printer ink (it's expensive, and this business is currently tough to take paperless).