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Updated about 3 years ago on . Most recent reply

Zach Wimberly's profile image
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Zach Wimberly
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Starting Out

First Rental Property - Savings?

Zach Wimberly
Posted

Hello BP Network! My wife and I are just starting with our first rental property and wanted to see some opinions on how much we should be saving from rental payments for future expenses? Thank you in advance. 

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Terrell Garren
  • Rental Property Investor
  • from Concord, NC
  • Member since Dec 29, 2016
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Terrell Garren's profile image
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Terrell Garren
  • Rental Property Investor
  • from Concord, NC
  • Member since Dec 29, 2016
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Terrell Garren
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  • Concord, NC
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Terrell Garren
  • Rental Property Investor
  • Concord, NC
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I like to have access to around $8K for a SFH rental. Worst case, I can replace an HVAC and water heater in the same timeframe. You also need to be saving for insurance and tax payments.

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