Hi!
I've been doing a ton of research over the last few months and feel like I've got a pretty good handle on the expenses. Every once in a while though, I hear on the podcast some unforeseen expense that an investor ran in to or some fee they had to pay for something illegal they did on accident.
I am aware of the obvious things: mortgage, repairs, taxes, utilities, insurance, mortgage insurance, and turnover costs, but what are some of the less known expenses?
What are a some surprise expense you've ran into? How much did they cost? Were they one-time or recurring? Were you able to still cash-flow with them? Was it worth it in the end? How (if at all) could you have prevented that having to pay them? All the information you can give me is helpful in my preperation!
If it helps, I'm planning to invest in the Maryland (MD) / Washington DC area. I'm looking at both buy and hold rental strategies as well as house flipping and maybe even wholesaling (once I get some more experience).
Thank you all so much for your help, I couldn't do this without you!
