William's Blog...with a smile!

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Do you have a slush fund for your rentals?

Having rentals is more than rent it out, collect the money and spend it.

There are repair  issues.

Some are major.

My slush fund for my rentals is large enough to handle an emergency.

This morning one of my rentals furnace went out.

Called my go to guy.

New furnace.  $3700 for  a cheapy, $7000 for the top of the line.

My slush fund will be enough to do what ever I need done.

I don' have to go to the bank and beg for money to fix it.

 

Thinking of getting into the rental market? 

 

Think hard.  It may not be all fun money!

Comment balloon 4 commentsWilliam Feela • January 11 2019 05:24PM

Comments

Well, I don't have a slush fund, William... then again, I don't have rental properties!  But your point is well-taken and it's something I spend time discussing with investor clients who are new "to the rental game."

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (Coldwell Banker Residential Brokerage ) 5 months ago

Rental property owners should definitely have a fund, just "in case"!

Posted by Kat Palmiotti, The House Kat (Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com) 5 months ago

Morning again William.

I would not make a good landlord, therefore I don't or ever will, have any rentals

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty) 5 months ago

No rentals but this make a lot of sense.  You need cash on hand in case of an issue

Posted by Vern Eaton, Realtor 651-674-7449 5 months ago

Participate