All Forum Posts by: Carlos Quiros

I am in indianapolis, here are the numbers I use.

Insurance 1% -- most of my properties are $80-$120 a month
Maintenace 5%
Repairs/Capex - 5% (but I try to front load my properties and take care of major items up front - like roof, HVAC, sewer, etc.)
Management - 10% (typical for Indy area property managers, some are less but you get what you pay for)
Utilities - my tenants pay for everything (including lawn care and snow removal)  I have one property that has shared water/sewer for 2 units - I charge each tenant an extra $40 a month in addition to their rent to cover that.

(FYI - i am mostly single family, but have one duplex) be happy to chat more if you have more questions.

Carlos talk to people that either live in the area or invest there. There are gunshots by one of my properties and gang activity. I have no issues (knock on wood) finding qualified tenants(not gang bangers). There’s less than a 2% vacancy rate. The tenant base can be harder on the units, but that can be factored in.

There are definitely areas that you should not touch. However you have to be able to get the true investment picture and not just opinions from people that don’t actually operate there. You also should determine what your personal tolerance is for any particular market. 

@Carlos Quiros What neighborhood in Columbus are you looking at?

@Carlos Quiros no worries Carlos. Well 'C' areas may or may not be too bad; but I think we are on the same page, shop the neighborhood... it's a long term investment, so you will be happy you did. I'm in Michigan, so we certainly have some war zones and D neighborhoods (Detroit and flint) and we also have some A's and B's but really... B's are what we aim for. I sent you a DM on BP; if you can assist it would certainly make my day. 

You should have put a clause in purchase contract to get Rent Roll BEFORE the closing.