Need Expense Numbers for Durham
Hey Everyone,
I read J Scott's awesome article about deal analysis a few days ago on here, and I've been crunching numbers every since.
I'm hoping some locals could give me a better idea of what numbers and percentages I should be using to calculate expenses. Specifically What property tax rate should I use, what's the insurance going to be, and what's the typical vacancy rate around here? I've seen 10% being used as a benchmark for maintenance, is that what most investors use and is that 10% of monthly rent. I've been using a mortgage calculator I found online to calculate that? Are those accurate?
To put this into my context, I'm looking at homes in the 50-100k range.
Any feedback is greatly appreciated!