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Updated almost 8 years ago,

Lauren Stamey's profile image
Lauren Stamey's profile image
Lauren Stamey
  • from Durham, North Carolina
  • Member since Jun 18, 2015
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Lauren Stamey's profile image
Lauren Stamey's profile image
Lauren Stamey
  • from Durham, North Carolina
  • Member since Jun 18, 2015
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Lauren Stamey
  • Durham, NC
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General Landlording & Rental Properties

First Year of Rental Income--How much to put away?

Lauren Stamey
  • Durham, NC
Posted

Hello,

I'm wondering how much "rainy day" money I need to put away before using profits from my rental. My mortgage on the property is ~1,000 and I am renting the property for $1,500. Is there a suggested percentage of my profit ($500/month) that is recommended to keep to pay for potential repairs, vacancies, etc.? 

Thanks!

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