New RE Investor

[Michael Herrmann]

Hi,

My name is Michael and I am a 29 year old from Murfreesboro, TN looking to invest in my first rental property (thinking a single family or duplex). I am reading some books from BiggerPockets and I am having trouble with the calculations for expenses. Does anyone know the figures for these expenses offhand possibly - Vacancy Rate, Capex, Property Managers?

[Karen Wanamarta]

@Michael Herrmann don't forget cost of capital and closing costs. I use roughly 5% vacancy, 3-5% capex, and 8% PM. If you only have one property I would self-manage. The hardest part is finding good tenants.