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Investment Real Estate >Planning for Repairs
If you are the owner of an investment property, you are responsible when something breaks down in the building. So when the tenants call with an emergency, you will need to have a list of local repair companies you can contact, and money in the bank to pay for their services.
One of the best ways to protect your property investment is to purchase a home warranty that covers your home against unexpected system breakdowns that can be costly, particularly if the heating or plumbing systems need repair. The yearly cost of a good home warranty is probably less than the cost of replacing a broken water heater. If your property is older, a home warranty will provide you with greater security and peace of mind.
Another way to plan for investment property repairs is by building up a monthly surplus account, where part of your positive cash flow can sit in preparation for the day some major repair is needed. Having a "rainy day" fund will relieve you of financial stress when something has to be fixed.
Clara Welbourne has been a TOP SELLING and LISTING Realtor in the Shreveport-Bossier Area for the past 10 years. Shreveport Real Estate Blog | Young Buyer in Shreveport | Ownership Advice in Shreveport | Confidence and Experience in Shreveport | A REALTOR Can Help in Shreveport | Find your Dream in Shreveport | Your Wish List in Shreveport | House Search in Shreveport | Real Estate Ads in Shreveport | Approval Letters in Shreveport | Home Hunt in Shreveport | Home Selection in Shreveport | Comparison Shopping in Shreveport | Homes In Shreveport | Homes For Sale In Shreveport | RealEstate Shreveport | New Homes In Shreveport | Property In Shreveport | Homes For Sale Shreveport | RealEstate For SaleShreveport | For Sale In Shreveport | Realtors In Shreveport | Shreveport MLS | Shreveport Listings | Shreveport Property | Shreveport Home Values | Shreveport Appraisal | Shreveport Home Inspection | Shreveport Interest Rates | Shreveport RealEstate | Shreveport Real Estate | Shreveport IDX | Shreveport Residential Real Estate | Shreveport Real Estate Listing | Shreveport Real Estate Agent | Shreveport Area Real Estate | Shreveport Realty | Shreveport Real Estate Market | Shreveport Virtual Tours | Shreveport Luxury Real Estate-Re/Max
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