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15 October 2024 | 14 replies
Preventative maintenance (things like gutters or removing/trimming trees).4.
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18 October 2024 | 23 replies
Plus, you’re often dealing with a lower-quality tenant base, which means more maintenance issues.It’s not for everyone, but if you’re looking for consistent rent and less turnover, it could be worth considering.
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15 October 2024 | 15 replies
Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.
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16 October 2024 | 5 replies
Looks like you removed CapEx in Proforma and increased repairs/maintenance by only $3,500?
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16 October 2024 | 13 replies
Same with cost of utilities, and cost of repairs/maintenance.
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9 October 2024 | 9 replies
On either an A class property or a commercial building, I would do preventative maintenance, but beyond that I wouldn't worry about it.
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10 October 2024 | 9 replies
Under the routine maintenance safe harbor, if you had to do have the same maintenance completed within the last 10 years, you may be able to expense it as routine maintenance.
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15 October 2024 | 6 replies
Looking to structure the deal with concession's to come as little out of pocket as possible so I have different offers in mind, but the payment is between the ranges.I figure another 20% for Property Management, Vacancy, Maintenance which totals to $1,100.84/M-$1,146.14/M.
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16 October 2024 | 5 replies
Initially, I underestimated expenses such as property management fees, maintenance costs, and unexpected repairs.
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16 October 2024 | 8 replies
Meanwhile, your expenses, like debt service, taxes, insurance, and maintenance, continue.Another concern with investing in disaster-prone areas is the high cost of insurance.