What is you plan for dealing with unexpected events, vacencies, and so forth?

I want to check where my head is at after owning 6 properties and putting over 100 offers in over the past year.1,100 sq ft 3/1 house in a nice neighborhood built in 1960Purchase price: $42,000Borrow $35,000 @ 5.5% 15y$3,000 for clean up and repairs$10,000 cash investmentProformaRent $900 a month = $10,800 a yearMortgage $286 a month = $3,432 a yearTaxes $100 a month =$1,200 a yearInsurance $100 a month = $1,200 a yearI know there is unexpected vacancy costs, maintenance costs, lawyer costs etc...

This cousin is a single mom whose husband passed away unexpectedly 2 years ago.

Just wondering if anyone else is having unexpected issues pop up.

Obviously a huge unexpected gain.

Always have a reserve in place to be able to pay for unexpected repairs as they're sure to surface over time.Even with the unexpected road bumps, I continue to be a huge believer in real estate as a critical component of investment strategy.

That's not reality & I'm sure that line item will go up with time.My point was to educate the newbs to stay away from condo HOA's & to always put $ aside each month for unexpected costs.

If you have passive income you can buy your time back.You need cash and equity in your property to have the margins to weather temporary downturns or unexpected repairs.

This is Texas, I think, but the problems and the way they are handled is nationwide: Sun Telegram.comMonday, Jun 25, 2007 Posted on Sun, Jun. 24, 2007 Homeowner associations flex their muscleBy MIKE LEEStar-Telegram staff writerAsa Henry's backyard playground is a kid's delight -- it's at least 10 feet high, with two slides, a fort, swings, ladders.

I'm totally delighted with all the information that I have seen here.I am presently based in California but will be moving back home (Chicago) next year.