All Topics / The Treasure Chest / Annual Repairs Allowance

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  • Profile photo of 4walls24walls2
    Participant
    @4walls2
    Join Date: 2003
    Post Count: 20
    June 9, 2003 - 2:31 pm

    One more time for the slow ones. Sorry guys, up to my neck in back taxes, organizing refinancing and finding out about offshore structures.

    Haven’t had a chance to revisit Steve’s notes on the seminar.

    The case studies we received in the course have an annual repairs allowance of 5%. Is this 5% of total purchase price please. Seems a little low for 5% of annual rental income. Is this a loose guesstimate or a pretty accurate %.

    thanks
    regards
    4walls

    Profile photo of BettyBlockbusterBettyBlockbuster
    Participant
    @bettyblockbuster
    Join Date: 2003
    Post Count: 46
    June 10, 2003 - 5:11 am

    Hi 4 walls

    My recollection of the 5% figure was a ball park estimate. I would say that it all depends on the condition of the property and the quality of the tenant.

    I’ll check my notes tonight and let you know if I read anything different.

    Betty Blockbuster

    Profile photo of whjwhj
    Member
    @whj
    Join Date: 2003
    Post Count: 13
    June 10, 2003 - 3:54 pm

    Hi 4walls

    The 5% in the course notes is based on the rental income. But please dont use this as absolute figure, you really have to take into account property (as BB amd M&K said).

    Happy Hunting

    WHJ

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