Quick underwriting tip I locked in:

The seller’s expenses are NOT your expenses.

A lot of people just plug in the financials and run with it… but that’s how you end up with bad assumptions.

Instead:

– Get real quotes (insurance, etc.)

– Adjust for how you would operate

– Don’t assume things stay the same

Also—don’t forget expenses change over time. Rent isn’t the only thing that goes up.

If you’re new, a solid target to keep in mind:

→ Aim for ~35% expense ratio at stabilization

Curious—are you guys underwriting anything right now? What are you seeing?

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