this is my first property I have ever analyzed & I dont even know if I have done it correctly, some input of data was guestimated, but I guess practise makes perfect.
I wud appreciate any input to improve, feel free to, please keep it simple for me as I am a beginner & am still having to google what the abbreviations mean on most termonolgy.
This took me hours and hours, alot of info I am trying to find for my data entry either took me forever to find or u had to pay for the info :-/
So a few questions?
- In applying water & heating cost etc, is this an american thing that all power, heating & water costs are paid by the landlord & inorporated into the cost?
- To get full details on a property is it only accumulated thru payment or are there other ways, Im thinking being in NZ are they way different from USA
thanks heaps in advance
Welcome to the site!
I can't speak to the resources you have available in NZ, but in the US most details you can find out for free, or estimate using sound judgement.
I think some of the most valid techniques for aggregating the details is to ask other people who own similar properties in your area of interest. Property management is a great place to start if you have any professional companies in the area.
They'll also be able to give you an idea of what the operating norms are for your market in terms of water and gas. However, I think the water and gas (heating) is different for each individual property.
Unless there is some sort of law or regulation that requires the owners to pay (which exists in the States in some locations) utilities, you should be able to negotiate that in your lease.
Good luck! Keep us posted.
that helps a bundle!
Join the Largest Real Estate Investing Community
Basic membership is free, forever.