Would it be possible to ask what your experience has been for repairs and maintenance and cap ex on sfr rentals, 3 bd 2 ba, in the Midwest where it snows, such as Indianapolis or Cincinnati? II am from southern ca and has no experience with snow maintenance and properties with basements. I am looking at some but and holds and are not sure what to put in for landscaping, r/m and cap ex. It seems like landscaping would also include snow ploughing?
The tenant usually takes care of the yard and snow removal [here in Indianapolis].
A post-war 3/2 ranch on a slab or crawl has very little issues. Most are stone, brick or vinyl siding as well - so nothing to maintain there as well.
To be safe, I always recommend using a 10% CAPx to cover most small items, assuming the property has had a fresh rehab when you rent it out for the first time.
@Nazz Wang it really depends on the winter. Last years winter was probably the busiest season in decades for snow removal companies. However, you can always make snow removal the tenants responsibility and either way the driveways in Indianapolis aren't that large and therefore snow removal costs shouldn't make or break a rental for you.
I'd focus on location more than anything when trying to choose a rental property in Indianapolis. If you need help feel free to PM me. I don't have anything to sell, but I can help guide you to the right neighborhoods.
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!