I am all read up on how to calculate a deal, but what I cannot nail down is where to find operating cost numbers. I tried to called SDG&E, my local gas and electric company, to see if they have a map on the varying usages across the county. I reasoned that if on my statements they show me how my usage compares to that of my neighbors I could get the same information for all the neighbors! Sadly after much phone tag I cannot find this information. They said I could ask for each individual neighborhood, but that would take forever. Went to the county clerks office to inquire, but again to no avail. I tried the same thing with water just shy of calling. I found the rates online and an average for the county as a whole, but it isn't broken down into the different usage types--industrial vs. SFR.
The next step would where to find property tax numbers. I know I have seen them on Zillow, but all the books and investors say this isn't a reliable source so I am reluctant to use anything from these sites. However I am having a tough go of real estate agents responding back to me because of my age so MLS access is looking dim unless I finish my license work.
How do I find these numbers?
Hi @Jay Adams ,
- How to estimate Property Taxes in California. My example there is for Oakland, but you are in San Diego county. San Diego is weird. You have to email some generic tax assessor address, and they send you a copy of the bill in a business day or two. Most real estate agents don't know how to do that math, so that's why you aren't having any luck there. Typically all you can expect there is "Mello Roos = yes/no?"
- For utilities, once the property is under contract, get a copy of the seller's Schedule E with their SSN and other properties blacked out. Do it during your inspection contingency period.
@Jay Adams Your best bet is to ask here.
Property taxes will be 1.1% of your basis (with inconsequential variations in different communities).
Your utility costs - assuming you can't sub-meter - will vary based on property type. But, in City of SD areas in duplex/tri/quad properties, I see the following:
Gas and Electric: $25 one person ... up to $70 for five tenants.
Water and Sewer: $75/m per unit for 3-4 people on the high end.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing