Issues arise with rental

[Shawn Ziegaus]

This question is a pretty vague one so please feel free to ask more questions if there is any confusion on what I’m asking. But I am looking to get into rental properties and am curious what do you do if you have very little capital and a problem arises with the rental. Say a tenet has vacated the property and completely trashed it. What do you do if you are new to being a land lord and you don’t have enough money to cover the repairs?

I know that this wouldn’t be an issue after some time of renting due to setting aside a portion of your profit to deal with these expenses. I am just referring to the situations where this is not the case and that money is not available at the current time.

Any input is greatly appreciated Thankyou.

[Tyler Gibson]

@Shawn Ziegaus it can happen tenants can ruin your property. That is why you do all you can to protect yourself. The biggest thing with rentals is screening tenants. There is a saying and I don't know who said it but basically " the quality of your tenants will determine the quality of your returns". Many landlords get in a hurry to fill their property and accept tenants they don't feel great about and then they end up paying for it later. Real estate investing is a figure it out business you are always having to figure out how to deal with something. There are risks.