Be Free RE: Accelerate to Financial Independence through Real Estate

EXPENSES - How to estimate expenses and handle contractors

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EXPENSES

  • 50% rule is good -- gross Rents - 50% is your expenses, excluding mortgage costs
  • Always budget at least $200/mo
  • 5% gross rent for CAPEX
  • 5-8% gross rent for Vacancy
  • Build a spreadsheet to figure out your CAPEX from scratch. It is worth the time.

    • CONTRACTORS

    • Contractors respond to CASH and INCENTIVES
    • Start small and work your way in with them
    • If you do your own demo, you will get a better quote


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      Be Free RE: Accelerate to Financial Independence through Real EstateBy John and Tony
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