All Forum Posts by: Bill W

I have a friend who has ten rentals and he told me he figures 10% of gross rents for repairs and that has worked fine.I am going higher than that, that should work since all og the mechanicals, and roof or not very old.

Redo the math. My # show before tax cash flow over 1600 a year after tax even higher. Operating expenses of 30%. What am I missing?

Property currently brings in $1400 a month. Purchase price is $135000 I am putting down 25%. Expenses: Ins $700, Taxes $1700, Water runs about $40 a month. I assume a 5% vacancy rate, and around $2000 a year maintenance. Loan is 7% over 20 yr. Property is a duplex in a great part of town.

I love this site. I am buying my first Property, a duplex considerbly
under market value. Both units are currently rented although not for as much as they should be, and they are on month to month instead of a lease. They have been there a while and really take care of the place. Should I make the sign leases with me right away or give it a little while?