All Forum Posts by: Cynthia Elder

@Bjorik Mutize thanks!  Its hard to try to figure this stuff out on your own.  Very grateful for BiggerPockets!

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@Parker Jackson I honestly do not know how 20 years was placed in the amortization box. I meant to put 30.  The reason I only have $750 for monthly rent is because thats what the current tenant is paying but I feel it is possible to increase that to at least $850 and have no problems in keeping it occupied.  But I am sure I can't increase it beyond $900 because of the area and its market rents.

@Darius Ogloza  thank you for your help!  The thing I am having the most trouble with is knowing what numbers and percentages to put in for certain things.  So you guys are being of GREAT help with this.

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@Tim Herman  Thanks for the help and advice!  That is very useful!  I will definitely look into that template.  As a new investor its hard to know exactly where to start and if you're even on the right track.

Yes.  See the problem I'm having is knowing the right percentages to place within the expected expenditures.  Such as what to put as a percent under "Repairs and Maintenance", "Capital Expenditures."  Everything else I think I can get a decent ballpark figure.  I try to estimate on the higher end when it comes to expenditures and on the low end when it comes to growth and income just to provide a bit of a safety net.

How do you guys find your percent estimates when it comes expenditures.  I have been using Rentometer to get an estimate on potential rental income.

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Hi Luis, I currently work in the title industry. Currently, right now taxes on any property being purchased in Jackson county will be assessed using the contract purchase price multplied by last years mill levy. This is the requirement for all properties being assessed during an odd year such as 2019. Also, when it comes to the HOA, that should've been mentioned within the contract. Sorry for the surprise but this tends to happen alot. Suggestion for next time, go over the purchase agreement with your agent and point out to her any concerns or even any blank spots within the contract. It might seem like your being paranoid our untrusting but .... at the end of the day its your future asset or liability.