Do you have a slush fund for your rentals?

By
Real Estate Broker/Owner with WHISPERING PINES REALTY 20398180

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!

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Topic:
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Minnesota Chisago County North Branch
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Rainmaker
2,772,463
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

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."

Jan 11, 2019 09:48 AM #1
Rainmaker
1,315,502
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

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

Jan 11, 2019 04:43 PM #2
Rainmaker
2,681,298
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning again William.

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

Jan 12, 2019 01:48 AM #3
Rainmaker
617,264
Vern Eaton
Askov, MN
Realtor 651-674-7449

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

Jan 12, 2019 07:31 AM #4
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Rainmaker
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William Feela

Realtor, Whispering Pines Realty 651-674-5999 No.
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