Rental income/outgo template?
Hi all...
I'm looking to build my own rental template that's very general to help me quickly run numbers on potential properties. FilePlace has some great forms... though all a bit more advanced and as far as I can see better suited for a top to bottom purchase assessment, etc.
Basically, I'm wondering what you all have on the expense side of the ledger when you figure your monthly outgo.
So on one side... rental income.
On the other for example:
-Principle Payment
-Property Taxes
-PM (If used)
-HOA (If applicable)
-Monthly maintenance expense (XX.00 per month est.)
-Misc Utilities (If any incl.)
-Pool/Yard upkeep (If applicable)
Etc.
As a first time rental property investor, I'm basing a lot of my list on my experience as a renter and a homeowner, along with things I've learned here. But, I'm looking for those hidden or potentially forgettable expenses. I'm sure the pros here can run these in their head after a while. But... wondering if anyone has a written template, post they recommend or thoughts on the issue?
Hope the question made sense. Thanks!