Save for the rainy days!

[Jason V.]

In the last three months I have had some unexpected issues at one of my rentals. I needed a full roof replacement (bad storm), a tree fall on my tenants car (same storm), and two furnaces went out in my triplex. Luckily, I was able to have insurance take care of some of the roof and had enough money set aside to keep me from going in the red. 

I have talked with numerous investors recently who did not budget for repairs and capital expenditures in their pro forma. Put your money aside for the rainy day! It is not a matter of if it happens, but WHEN it will happen. 

Just putting my experience out there to remind others that life happens and to keep someone else from unnecessary pain. 

 

[Dennis M.]

There is safety in numbers . Once you get to 9-10 doors it gets easier . If your getting a couple grand a month in passive income , a dead furnace or ac unit isn’t the end of the world