D
Deleted106527
Guest
Hello everyone!
To people that are already „in the game“, this question might sound a bit silly, but it‘s something that‘s kinda been holding me back from getting into real estate too deeply.
To put it simply: How does one take care of their properties without losing too much cash?
So I will soon come into possession of a high 4-figure sum of money and I was thinking that‘d be the perfect opportunity to get my feet wet with real estate (maybe even House Hacking?).
But the number one thing I always seem to worry about and not find a proper answer to (maybe I‘m not so proficient at googling??) is taking care of damages, things that need to be fixed in the apartments/houses (not talking about repairing stuff before people move in, but while they are living there).
For example, in the case of House hacking: Let‘s say your tenants water does not work anymore (or even something simpler like a hole in a drywall); Do you learn to fix it yourself? Do you hire a professional to do it (which would probably not be cheap)?
Maybe I‘m overthinking/overanalysing this, but the number one thing all the people I know that own properties tell me is: „Repairing everything in these houses is so expensive nowadays I barely make a profit“.
Is it really just about finding a good property with good tenants in order to minimise damages? Maybe I‘m overestimating how often something needs to fixed?
I would love to hear from someone with a bit of experience in real estate.
Thanks in advance!
P.
To people that are already „in the game“, this question might sound a bit silly, but it‘s something that‘s kinda been holding me back from getting into real estate too deeply.
To put it simply: How does one take care of their properties without losing too much cash?
So I will soon come into possession of a high 4-figure sum of money and I was thinking that‘d be the perfect opportunity to get my feet wet with real estate (maybe even House Hacking?).
But the number one thing I always seem to worry about and not find a proper answer to (maybe I‘m not so proficient at googling??) is taking care of damages, things that need to be fixed in the apartments/houses (not talking about repairing stuff before people move in, but while they are living there).
For example, in the case of House hacking: Let‘s say your tenants water does not work anymore (or even something simpler like a hole in a drywall); Do you learn to fix it yourself? Do you hire a professional to do it (which would probably not be cheap)?
Maybe I‘m overthinking/overanalysing this, but the number one thing all the people I know that own properties tell me is: „Repairing everything in these houses is so expensive nowadays I barely make a profit“.
Is it really just about finding a good property with good tenants in order to minimise damages? Maybe I‘m overestimating how often something needs to fixed?
I would love to hear from someone with a bit of experience in real estate.
Thanks in advance!
P.
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