All Forum Posts by: Chris Nare

Good Morning. Thank you for our reply. This is helpful. 

On Friday, we began our REI journey. We closed on our first property that our agent found off-market. It is a 2 BR, 2.5 BA, one car garage condo in Fairfield, OH. We got it below market and need to spend about $15K to take care of the deferred maintenance and get the unit in shape to rent. Since this has an HOA, the rent will include water, sanitation, lawn care, and snow removal. Also, it has a washer and dryer. The tenant will need to pay for electricity. Some investors say they do not include any additional appliances since they can break, so we must fix them. I am interested in hearing your thoughts about this. Should we have the washer and dryer in our condo? Also, if we do, do you suggest we increase the rent for this or add the price for them in addition to the lease? So, for example, we would charge extra for these on top of the monthly rent?

Thank you for your reply.  

@Evan Polaski  Hi Evan, I am trying to determine what price would make sense to buy the MFs. I understand your point; these units rent for about $800/ month. 

@Sam McCormack,@Greg Kasmer@Evan Polaski@Mohammad Foro, Thank you all for your replies and help. I apprecaite it. 

Hi Sam, Thank you for your reply. Are you saying 15-20% total for maintenance, Capex, and vacancy
or 15-20 for all three?

Hi, I am a newbie, and we are working on finding our first deal. I have found a seller with a group of MFs ( Quads and Tris) that is off-market in Dayton, OH, and I am working on doing our deal analysis. 

What percentage of the rent do you suggest I use for maintenance, Capex, and vacancy? Thank you in advance for your help!