In my leases I put clearly that if a tenant flags a request as emergency and it is determined to be their fault or not an emergency they are responsible for the cost.

. §1.1031(k)-1(c)(4)COMMUNICATION RED FLAGS 📱Slow response timesUnclear instructionsPoor documentationNo weekend emergency contactNo backup personnelRemember: Your QI should make you feel confident, not confused!

, takes the edge of the emergency and buys us time to get a contractor out without having to pay for emergency hour services.

I also diversify into alternative real estate, like self-storage, to stay ahead of emerging trends.I’ve learned valuable lessons over the years, particularly the importance of clear communication and aligning expectations in partnerships.

How do you identify emerging markets before they become over saturated?

I'm particularly passionate about emerging markets in the Multifamily domain.Outside of real estate, I enjoy time with family and friends.

I might try the “emergency service” which is $20 with limited data and just use that for the smart locks and ring cameras.

If you planned on moving out of a house and buy another property, as an example, you could pull a HELOC before you moved out and keep it as an emergency fund.  

Screen tenants thoroughly, have a solid lease, and maintain an emergency fund for unexpected expenses.

I saved up the down payment for a few months and have a few remaining as emergency funds.