Planning For Unseen Expenses When Investing In Rental Properties

[Gabe Goudreau]

Hello,

I recently listened to Dave Ramsey dissuade a caller from purchasing a multi-family building, and I believe he made several valid points. He said that one of the main issues is that the buyer didn't have the financial means to personally support the property, meaning he couldn't afford any unforeseen capital expenditures or if there was a high vacancy rate that this property would bankrupt him. I know buying a really good deal mitigates this risk, but what are some other ways that you can get past these issues when investing in rental properties with little money?

I am in a similar position as the caller, so I am curious to find a solution to this problem as opposed to simply not buying real estate. Please let me know any opinions you all may have, thanks.