Pay now or you will pay later!

Its been a good week and a lesson learned put in place. That's what it's all about!

Our first property (we bought in December) had an old water heater.  I tried to save money and get a bit longer out of it. As your guessing,that's right,less than a week later it went.  It just so happened to be over the Christmas holidays.  And that's right you guessed right again. It cost more than it would of done,if we had just took the hit. Lesson learned.

I did read if it's over 75% of its useful life, budget to replace it.  Maybe I should of listened.

This time with our second property we just went right ahead and put in a fresh one.  The home inspector said it needed replacing soon.  I took the hint.  If you work out the price of the item $350 /10 (Average life expectancy) it's not that bad at $35 a year. 

I think that changing the heater and a couple of other jobs helped convince the inherited tennants to stay on. They even agreed to a $25 increase a month. That gives us a 3% return a month. Great stuff.

This next week I am looking at a seller finance deal I will share with you.  Will update you next week and show you the details.

Until next time

Nick