You can get a HELOC if there is equity in the property most likely, which there should be since you own it in cash, but you will just be decreasing your pay out and then may end up short in repair money, depending on how much it is worth.

Curious to hear others thoughts: Do you believe experience is the primary factor, or are there other qualities that matter more?

Staying as liquid as possible might also help you handle CapEx, taxes, small repairs, and so on.Let me know if you have any questions—I’d love to help in any way I can!

I'd hate for a temporary dip in the quality of the tenant pool to be giving my landlord "spidey sense" false alarms on account of taking an extra month or two to fill a unit.

The quality of the reports you receive also varies.

Hi everyone,
I’m a new investor learning the ropes of being a midterm landlord. I bought an outdated condo, planning to do a cosmetic rehab later when I had more budget.

I moved out of the condo in mid-2024 for a ...

Be prepared to face fluctuations in the market, unexpected repairs, and tenant issues.

@Cole Bossert I think @Sarah Kensinger and others have touched on the biggest qualities, especially communication.

I have a second condo property where the water quality became unacceptable (PFAS) so I put a filter on the sink and make people aware the fridge water no longer works.

How about repairs ?