What is the Proper Planning Tool for CapEx Expenses in Your Rental Property?
Are you using the same capital expense plan for every property you buy no matter the life expectancy of each capital expense?
Well, that wouldn’t make any sense.
If everything was new versus everything needing replacement, it wouldn’t make sense to plan for the same amount put aside in every situation.
- Think of scenarios where the roof will need replacement in 10 years, but everything else is fine for the next 30 years…
- Or where the windows need replacement in 5 years and so does the HVAC…
Does it make sense to plan your capital expenses the same way every time?
Of course it doesn’t.
Let us help you with a tool that will allow you to plan properly.
- Find out how much should put aside within your yearly expenses based upon the life left of each component.
- Get the actual percentage of funds compared to the cost of the property needed.
- Be able to refer back to your operational plan and check how accurate you were when replacements are needed.
As a business owner, you don’t want to improperly plan, risking your cash flow due to bad planning.
Or it could be as simple as you not having the right tools.
This is where we come in!
We are here to assist you at being more successful in your investments.
- More than anything, you want to understand the assessments necessary, so your planning supports your success.
- When you don’t plan well, or you use a standard amount every time, it could be to your detriment.
Some of you may be in a situation that if your cash flow is $6,000 per year, and you end up needing a costly and unplanned repair, your cash flow could go away that easily.
Don’t let that happen.
- Plan accordingly and get your CapEx Investment Calculator today!
- For the low price of $3.99, you could have this Microsoft Excel based tool on your desktop for easy access.
The point is, you want to properly plan for each investment, knowing no two investments are alike.
- Each property has it’s own unique needs.
Stop planning as if all investments are the same and don’t require unique capital expense planning.
As always, we are here to support your growth.
For a helpful tutorial, see one here on our YouTube Page.
We aim to help make the process more simple.
Thanks for joining us today faithful readers – future leaders.
Love ya and continue to strive for growth.
Please comment how you plan for capital expenses within your investments.
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