Just Starting My Multi Family Journey
I just started my own personal 90-day challenge on June 1st. My goal is to find a multi-family to buy and hold in my area. I am currently looking at a few different properties and trying to make sure I have most of my costs accounted for. I am trying to estimate my insurance and maintenance costs. Right now I am estimating 15% of the rent per door. I also have the taxes (based on last year) broken down to a per month cost + 2%, and my loan monthly payment accounted for as well as 85% of units rented out throughout the year. My question would be am I missing any big costs or are my estimates not high enough. I will be self-managing and appreciate other's posts that have given me thoughts on how to increase value within properties as I have been looking that others are not capitalizing on currently.
Any and all thoughts would be appreciated.