How to Calculate Realistic Maintenance costs and reserves for your income property portfolio
Being a Real Estate Investor and assisting Investors in the acquisition and management of income properties since 2008 has allowed me a considerable amount of experience above and beyond that of a typical Real Estate Investor. All too often I come across investors who seem to calculate an investment property predicting only the mortgage payment, taxes and insurance as expense items and neglecting to prepare for the cost of routine maintenance, capital improvements and turnover repairs and updates.
Lack of maintenance reserves, the failure to budget or improper budgeting of maintenance reserves is one of the biggest mistakes I see new and even seasoned real estate investors make when self-managing properties. Don't be a dumb-dumb and don't go broke due to bad planning. Learn how much you should expect to spend on maintenance issues over the life of your investment property.
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