Real-Estate Maintenance

Yes, owning a property investment is a good spend of money, as it promise huge amount of profits in due time. However just like any other things you own, it also needs maintenance. And you as a real-estate investor must also learn real-estate maintenance in order to preserve its value.

Repair: Just like your shoes, your properties eventually wear out in time. Repairing the damages occasionally is a must as it increases it value the more it is preserved. You must at least spend a 10% allowance on the repair and maintenance of your property.

Debts on Rentals: You must anticipate that your tenants have possibilities of skipping the payment on their monthly rents.

Monthly payment of mortgage: If you are capable of enrolling into a monthly mortgage, it doesn’t mean you must. If you can pay for the entire amount in one time, do it. It lessens your expenses to your property. Save that money for future expenses.

Insurance value: Getting your properties insured properly is a must this is why it is expensive. If you fail to have it insured, prepare for more expenses. Insurance lessens the amount of money you will spend on repairing your properties.

Tax: Now this is something you can’t do away with, but you can lessen the amount of you monthly tax by declaring your expenses related to your properties.