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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.
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| Q |
What four states in the Southwest are noted for having boundaries that touch.
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| A |
New Mexico, Arizona, Utah and Colorado, referred to as the "Four Corners", have adjoining boundaries. |
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Mike Lombardo
C21 Sunbelt
506 SW 47th Terrace
Cape Coral, FL 33914
English: 239-898-3445
Español: 239-898-3795
Fax: 239-443-2473
Mike@mikelombardoteam.com
I am selling property and I want to sell yours. You may have been told that the real estate news in our area is gloom and doom. “I have heard there is a recession, but I have decided not to participate.” I want you to know that I am selling and I want to help you sell your home. Call me or email me at (239) 898-3445 or Mike@MikeLombardoTeam.com   
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