- Adam SellersParticipant@adzy1992Join Date: 2018Post Count: 6
I’m working on trying to crunch the numbers on a property at the moment, and was wandering if anyone could point me in the direction of what to include in the analysis? Ex. insurance, property management, bills etc.
I hope that makes sense!
Thank you, Adam.Ethan TimorParticipant@ethantimorJoin Date: 2016Post Count: 282
Instead of asking us to provide you with a full list, how about you let us know what you included and we’ll add what we think is missing? 😉
42 Cohuna Street Income breakdown
Name Expenses Income Weekly Total Yearly Total Total
Rental Income 240pw 240 12480
Mortgage Repayments 110 110 5720
Rates 24.9 24.9 1,294.86
Home and Landlord 13.59 13.59 707
Management Fees 21.13 21.13 1099
Total Income $240 $240 $12,480.00 $12,480.00
Total Expenses $169.62 $169.62 $8820.86 -$8820.86
TOTAL $70.38 $3659.76
Really for expenses its just what you will have generally, yes you can add and allocate extra costs but its all personal preference.
So main ones are
-Rates (land and council)
that’s about it from my perspective, depending on property etc.’
So you workout income – expenses = yearly return.
then yes there will usually be some Tax incentives but I see this as gravy personally.Adam SellersParticipant@adzy1992Join Date: 2018Post Count: 6
Thank you again Jaxon, you’re a champ! I did have a couple of those down, and quite a few more, but I think I’m just planning for unnecessary things!
Thanks again guys! Much appreciatedStevenParticipant@steven1982Join Date: 2017Post Count: 189
Probably still put down a few hundred each year for maintenance.
If it is a brand new property or one that you renovated yourself, then you should be pretty well covered.
If it is a tired old property then expect things to break here and there once in a while.
It is not “whether or not things will break”, but rather “when things will break”.
If things don’t break, then great! You’d be quite happy that those a few hundred are your profit for that year, but even when things do break, that’s OK, you are covered (unless something major that is broken that will require a few thousand to fix, but really should aim to prevent those…).