All Forum Posts by: Romar Watson

I see, thanks for the quick reply, that's a excellent point. Calculators are only as good as the information that's inputed. I would have the inspector and the general contractor take a look at all the big ticket items under the CapEx category to get a better estimate of the life that each has left. If then the numbers don't pan out (Too many items in need of immediate repair), it just wouldn't be a great investment for me make. The cost of the CapEx and Maintenance is relative to the GI because it has a direct effect on the Return on investment.

I grouped the cap Ex because it's a multi unit that would share the same roof, siding, etc. The initial 10k budget would be for the major items within the unit that would need to be upgraded or touched up; with a motive to prevent any blind sided costs that could possibly happen down the line. From every digital mentor (including the owners of Bigger Pockets), they've always calculated their costs based off of the percentage of the net income. Do you feel like it should be calculated differently?

Not at the moment, I'm just basing this information off of the numbers that I've found for the area. How do you feel about Petersburg?

that's so amazing man. Congrats, your children will appreciate it when they get older.

thanks @Robert Plumpe. Great advice, a thorough inspection will be the main deciding factor.

@Patti Robertson thanks Patti. I'll look further into the clubs, God Bless.

I updated my expenses to: 8% Vacancy, 6% Repairs, 6% CapEx, and 10% Property Management.

MCF: $993.75

COCROI: 58.46%

Total Cash Invested: $20,400

Thank You for the input.

Your awesome man, much appreciated. 🙏🏾