All Forum Posts by: Richard Hoyte

What is a good and or acceptable amount of money to have saved up before buying your first rental property 

I'm aware this can vary depending on the state/area but is there a rule of thumb

Thank you ahead of time 

Thank you for explaining it in more depth 

Where I lack understanding is at what point do you start making money for example you buy a duplex lets say it was 300k the monthly mortgage is 2,500 each renter pays 1,500 thatd 500 cash flow which is I guess “profit “ but as the landlord you're responsible for major repairs such as but not limited to roofs, plumbing issues, electrical issues that all can be expensive you would have to have money saved so that 500 cash flow is profit but wouldnt it just have to sit in a bank account? 

Hello I'm Richard I'm looking for someone I can speak with one-on-one to answer some questions I have about buying my first duplex in Delaware I'm currently in New York City