My deal closed, but the headaches just started!!

[Kimberly H.]

It’s a fun learning process, but man oh man!  You better have some cushion for expenses... Remember me!  The one that got her copper pipes yanked out a day before closing.  Well, the plumbing is done ($1500), remember it was an oil furnace (more copper), well the oil was converted to gas $3,500 w/labor and units Sep. metered. None of this was planned for. 

On the bright side..... I just posted the rental and I might have done it prematurely, because I'm getting hits like crazy and the contractor is still doing lead abatement. I should have the property ready in 2 weeks to view. So, that's what I'm telling potential renters.

Putting the cart before the horse I guess. I'm learning sooooo much and thankfully I had a cushion of cash because I would be stuck on stupid right now.

Oh two great stores I learned about in the Baltimore area:  2nd change and loading dock.  You can really get some good used stuff and a decent price.

Sorry to ramble... numbers, numbers, do the dang numbers! Not sure how I'm going to get to the next deal. I can't refinance this duplex for 3 years and I'm close to FMV.

[Jeffery Griggs]

Thanks for sharing. Having reserves is critical to long term success.