Rental Property Analysis Calculator Condo expenses
Hi, sorry, If I am not posting this in the correct forum. Anyone have experience with purchasing a condo for a rental and figuring the cash flow?
I am thinking about investing in a small condo in Wisconsin to use as rental income. I am new to investing, so generally when I am calculating single family homes I include 5% for repair and 5% for capital expenditures, amongst the other expenses. Condo fees $188.
My question is for an 870' condo, built in 1968, no pool or amenities, is it fair to calculate 5% for maintenance?
I can call the association and see if there are any future capital expenditures, but right now I am just trying to get a figure to see if it would cash flow.
Appreciate any insight.