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Real Estate Tips
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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Real Estate Trivia
Q 
Exactly how many islands are included in the group called the 1000 Islands?

A 
There are actually 1,864 islands in the 80-mile stretch in the St. Lawrence River, between Ontario, Canada and New York State.
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Mike Kight, REALTOR®, real estate agents and broker for Austin, Cedar Park and Leander, Texas home listings, property and land for sale - NUMBER1EXPERT(tm)

The Mike Kight Home Team
RE/MAX Capital City II

1903 Cypress Creek Rd., Suite 101
Cedar Park, TX 78613
Phone: 512-924-6524
Fax: 512-744-4601
mikekight@NUMBER1EXPERT.com
mikekight@remax.net

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