- Joined
- Apr 16, 2008
- Messages
- 331
Hi Folks,
I am looking for some feedback on the below mentioned.
Over the past 6-8 months, I have incurred $10,000 in repairs and maintenance on 3 different properties.
In addition to dealing with a non paying tenant that I am currently evicting, when all is said and done, repairs and maintenance as well as costs associated with evicting (lost rent, further repairs to the property) will put me in the hole $15,000 total...and possibly more than that...
This is of course a ridiculous amount of expenditures in a very short period of time.
I do not panic because I am running things like a business.
I use my revenue (monthly cash flow) to pay down my expenditures (large repairs and maintenance costs)
However, since repairs and maintenance and associated costs have gone so high, paydown from revenues will take longer.
I am looking for feedback from others who have gone through this, and what you decided to do about it.
I look forward to your qualified feedback.
Best Regards,
Neil.
I am looking for some feedback on the below mentioned.
Over the past 6-8 months, I have incurred $10,000 in repairs and maintenance on 3 different properties.
In addition to dealing with a non paying tenant that I am currently evicting, when all is said and done, repairs and maintenance as well as costs associated with evicting (lost rent, further repairs to the property) will put me in the hole $15,000 total...and possibly more than that...
This is of course a ridiculous amount of expenditures in a very short period of time.
I do not panic because I am running things like a business.
I use my revenue (monthly cash flow) to pay down my expenditures (large repairs and maintenance costs)
However, since repairs and maintenance and associated costs have gone so high, paydown from revenues will take longer.
I am looking for feedback from others who have gone through this, and what you decided to do about it.
I look forward to your qualified feedback.
Best Regards,
Neil.