All Forum Posts by: Jesse Curtis
Jesse Curtis has started 1 posts and replied 2 times.
Post: Milwaukee Duplex Analysis
- Milwaukee, WI
- Posts 2
- Votes 0
@Pat Parrillo: Thanks for the reply. Read it about four times to soak it all up. Sorry to confuse on the rent numbers, they are actual and are month to month according to the listing. Rentometer says the rents are "reasonable" and a bit on the Green side, if that matters. Good note to know on the Milwaukee market being a bit easier to fill.
Utilities: The units are separately metered and I had 1000 for water/sewer/trash so I will raise that up a bit.
The MLS listing says the property had a tear off roof replacement in 2014 and new furnace and AC in 2006. Floors are all hardwood. Low maintenance exterior.
Question on the AC and furnace: How are they metering the AC separately if there is only one condenser?
For snow removal and grounds keeping I'd like to do that myself at least for a while just to save a bit more and 'keep my eye on the place'. Does that sound reasonable to do?
One thing that sticks out is that it has been on the MLS for over a year- they lowered the price but does that scream that something could be wrong? At one point they had the listing 13k lower than their asking price now.
@Marcus Auerbach: Thanks for the note on CapEx. I have been a bit confused on how you factor in CapEx vs regular Repairs and Maintenance. With Pat's estimate of 10% of gross rents it looks like that is both Cap expenditures and maintenance, so am I doubling down with having 10% for Repairs and another line item for 6% CapEx? Everywhere I read people underestimate repairs and maintenance so I want to get this portion right.
Thanks again for the replies. I'll drive by the property and see how it looks.
Post: Milwaukee Duplex Analysis
- Milwaukee, WI
- Posts 2
- Votes 0
Hi, First time buyer of a rental property and this is my first run at the numbers for a duplex.
Property is a 2/2 Duplex (1 bath) with a 2 car garage. Currently occupied. Rents and taxes are actual. Asking price is 145,000.
I know a 100%/mo. per unit cash flow is a common goal I see, is that number calculated before taxes?
Any advice or things that look out of the ordinary would be appreciated.