But be prepared to have savings on hand for unexpected expenses if you own a rental.

A key component of due diligence when buying land is the availability and cost of getting utility to the property.

I can probably afford to keep going in the hole if I have to, but if the tenants move out unexpectedly or I need a big repair in the next year or two, I will be in big trouble.

Huge chunks of money and time flow toward unexpected projects.

So that means having your own phone number, own web domain, own database, your own app.This is one of the basic components we provide our agents.

Just because it may it happened quickly or it was unexpected doesn’t mean it’s not in the right alignment for your journey.

I feel like your numbers could exclude unexpected expenses that ALWAYS come up in a rehab.

Just a few thoughts: - Get a thorough inspection- Get 3-5 estimates from GCs- Pick the right ‘genre’ of GC (fourplex and smaller usually falls under midsize or smaller GCs) - Always check license numbers and if you’re repairs or more than $25k, request references/info for 3 past similar projects with pictures or check social media and reviews - Get a service agreement in place before finalizing your deal and make sure the estimates cover everything in your inspection report and nothing is overlooked so there’s not as much unexpected cost that pops up.

Being in a rural area there were unexpected costs and a difficulty in finding vendors.

That started the Roth clock before we even added the SD component.