All Forum Posts by: Samir Patel

@Charles McCabe Just found this. Thanks for sharing :)

These pics might make it easier:

I have a quick question about how others are calculating CapEx on a rental property investment. I'm currently factoring in about 8-10% for CapEx depending on the age of the property and the neighborhood. I recently came across a video where the investor was discussing the pitfalls of CapEx if not calculated correctly and how many investors under budget for this. I'll link the video below, but basically he was itemizing expenses based on their lifespan and replacement cost for the area and coming up with a monthly CapEx amount based on this. I think this makes sense since this will be the actual costs when you go to replace said items, but this will put my CapEx projections at nearly 20-25%.

Link to Video

Here's an example for illustration:

Purchase Price: $100k

Rent: $1000/mo

Link to BP Calculator

Itemized Expenses Based on Replacement Cost and Life Expectancy

Based on the replacement cost and life expectancy, I would need to factor in about 20% CapEx which would account for all the expenses over the time period while I'm holding the property. Is this correct? Am I doing something wrong here? Are most investors just under budgeting for CapEx? Any advice would be greatly appreciated :)

View report

*This link comes directly from our calculators, based on information input by the member who posted.

@Chantalle Mecham I'm also an investor in the area and would be happy to join!

I went to a free seminar hosted by @Omni Casey last week that was great. It was an in-depth discussion of RE Investing with some added networking to meet locals. Definitely recommend checking that out if you're interested.

Hi Tim, I'm a fellow investor in Fairfax County as well and was also considering STR for a while. As pointed out by other investors, there are some restrictions that limit the amount of time you can have an STR in Fairfax County. I believe this is currently limited to 60 days but I would double check to confirm this. Hope this helps, good luck with your investing!

@Lexie De Stefano anytime!

Update: it looks like Fairfax County is removing the age and disability requirement for accessory living units (previously known as accessory dwelling units). For anyone interested, here is the link to the zMOD Project with the upcoming changes (effective July 1st).

@Christopher Johnson You might want to consider Virginia Beach in that case. It's not the most affordable option out there, but it does seem to check off most of your boxes. Also the short term rental demand in that area might be something to look into as well. Good luck with your search!

@Christopher Johnson I'm also an investor in the NOVA area and currently live in Herndon. What are your goals in terms of real estate? Are you looking to house hack? Do a live-in flip? Or something else?

Feel free to DM me if you want to chat :)

@Colleen F. That makes sense. I have a few contractors coming out this week to give an estimate. Will decide based on the bids and see if it still makes sense numbers wise. Thanks!