Does anyone have a Rental Property business plan?

Question

Hello, I may be interested in getting into some rental properties and seeing if anyone could share a business plan format for rental properties.  Thanks much.

Dale Osborn · Answer

Buy homes
Fix them up
Rent homes
Maintain Homes
Repair homes in between tenants. 
Find new tenants. 
Rent homes until you get burnt out. 
Sell homes and 1031 into a Mobile Home Park. 
Rent the land not the homes!

Mitch Kronowit · Answer

I've been a landlord for over a decade and have yet to write my business plan. ;-)

I wouldn't spend too much time and energy on one until you acquire about 3-4 rentals, 2-3 years experience managing them, and begin seeking private investors/partners to grow your business or try to get financing through a portfolio lender or commercial bank. They'll want to see your business plan.

Greg Sharp · Answer

The basic business plan is "Make Money".

* Know what you can rent it for
* Allow 5% -15% for vacancy in your area
* Subtract for 
  * Taxes, insurance, etc.
  * Utilities you pay for
  * HOA dues (if any)
  * Maintenance allowance of 3% 
  * Property management (if you use it)
  * Cost of your loan and interest
  * What is left is profit

Target a minimum of 10% cash on cash on your money. Another target is 12% and 4 points for the private money loan

Justin S. · Answer

I think J Scott has a business plan on his website, not sure if it's rental or flipped based.  I'd imagine it's easy to modify though.

Does anyone have a Rental Property business plan?

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