How much to set aside for Maintenance and Cap Ex?

[Garrett Christensen]

Hi All,

I've been investing for a few years now and when I'm running numbers I always set aside a percentage of the rent for maintenance and cap ex. I adjust this number slightly based on the condition of the property, but I don't really have a set system for this and I'd like to. It just seems too arbitrary at this point.

I'd love to hear from others on how they determine the amount of the rent to set aside. Ideally, we'd have years of data and just go off that, but when purchasing a property we don't have that. Also, costs of materials vary by location so I'd be totally lost if I were to invest out of state. 

Excited to hear what ya'll are doing.

Garrett