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Can someone help me properly fill this out? I already closed on the deal with a private money lender so I have accurate numbers of what I paid up front at closing. However I'm not sure how to fill out the refinance part.
@Guillermo Oyola Need to rework your numbers. No one pays 16 million dollars for points for a 200k loan. Your refi will be max of 75% of ARV or 251k. Where are your repair and capex budgets. Should be 15% of rents. Vacancy of 2% is your tenants staying an average of 50 months. I analyze at 8%. No PM costs 10-12% of rents. Don't know what the $50 misc is for.
@Guillermo Oyola I agree with Tim's comments. Vacancy is really low, I normally use 5% but it really depends on your market. You're missing maintenance and CapEx, I use 5% for each but it depends on the age of your property. I think PM is OK at 10%, since it varies by market. I know markets where 10% is normal. My current properties are 7%
I messed up on my points, I actually put the amount and not points. Fixed it.
Yeah vacancy in my market is very low. For the past 6 years on my single family homes I have had no vacancy, because my tenants stay long term. I'm assuming low as well for these duplex because they are in same market about 20min away.
I inputted my maintenance now at 3% because we are doing renovations now. Everything is new and updated. I also did not put CapEx because property has new roof that was put on right before I closed. I'm also doing new AC, new hot water heaters, new pretty much everything in the units.
@Guillermo Oyola Doesn't make any difference if everything is new you have capex. You need to have a reserve fund for future capex. Assume 1000 sf of flooring per unit. Look at the commercial warranty and it will say 10 years. That is my lifespan. My area it $6 sf to replace. 2000 sf* $6sf= $12000/10 year life span/12 months in a year= $100 per month for 1 item in a capex budget for brand new. You might not have any expenditures but you need to know how much to save.