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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 
What famous American sign was originally erected as a real estate ad?

A 
The Hollywood sign, built in 1923, was conceived as a real estate ad that originally read, "Hollywoodland."
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Sherry Wilson & Co., REALTOR®, real estate agents and broker for Ashburn, Leesburg and Loudoun County, Virginia home listings, property and land for sale - NUMBER1EXPERT(tm)

Sherry Wilson & Co.
RE/MAX Leaders

1021 East Main Street
Purcellville, VA 20132
Phone: 540-338-6300
Fax: 540-338-4916
Email: sherrywilson@NUMBER1EXPERT.com

All agents are NOT alike! Find out why I am a top real estate expert.

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