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Updated about 2 years ago on . Most recent reply
- Property Manager
- Clarksville, TN
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Rental Property Ownership 101
Drop your top tip for new/inexperienced landlords. What is something you wish you would have known when starting investing in long-term, buy-and-hold rentals? I'll start:
Rental property investing can be a great tool to build wealth! I'd suggest the need to budget for reserves. Have a bank account for vacancy, maintenance, turnover, and CAPEX. Fund the account initially and make monthly contributions to it from the rent that is collected (even in months where these expenses do not occur). If you have sufficient reserves, most problems associated with rental property investing can be mitigated!
- John Williams
- [email protected]
- 931-272-3065
Most Popular Reply
#5 Multi-Family and Apartment Investing Contributor
- Investor
- Shelton, WA
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#5 Multi-Family and Apartment Investing Contributor
- Investor
- Shelton, WA
@John Williams agree 100%.
Screen like your life depends on it-because it does!