Reserves when you start

[Douglas Curtiss]

I know that BP teaches that you should put a % of revenue aside for expenses (cap ex, vacancy, repairs, taxes, etc) and to maintain a certain number of months in reserves, but what do you do when you first start out? Do you wait until you have reserves saved in addition to down payment and closing costs?

[Bryan Balducki]

@Douglas Curtiss I would always have some form of reserves, especially for your first property. I usually stick to 10k per property. Having credit cards to fund unexpected costs can help in a pinch.