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Updated almost 7 years ago on . Most recent reply

Tasha Davis's profile image
Tasha Davis's profile image
Tasha Davis
  • from Albany, New York
  • Member since Sep 20, 2017
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Tasha Davis's profile image
Tasha Davis's profile image
Tasha Davis
  • from Albany, New York
  • Member since Sep 20, 2017
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Tasha Davis
  • Albany, NY
7
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15
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Starting Out

Savings for repairs, emergencies, etc

Tasha Davis
  • Albany, NY
Posted

I just bought my first 2 unit property- I am house hacking currently. How much money do you think I should save for reserves in case of an emergency or if work needs to be done? 5,000 a unit? more? less?

Thanks guys!!

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Henri Meli's profile image
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Henri Meli
  • Investor
  • from Morrisville, North Carolina
  • Member since Dec 29, 2012
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Henri Meli's profile image
Henri Meli's profile image
Henri Meli
  • Investor
  • from Morrisville, North Carolina
  • Member since Dec 29, 2012
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Henri Meli
  • Investor
  • Morrisville, NC
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Henri Meli
  • Investor
  • Morrisville, NC
Replied

@Tasha Davis I think it depends on the age of the property. For older properties you definitely need to put more aside, if maintenance hasn't been performed appropriately in the past. Do you know the age of the roof/mechanicals in the units?

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