Savings for repairs, emergencies, etc
I just bought my first 2 unit property- I am house hacking currently. How much money do you think I should save for reserves in case of an emergency or if work needs to be done? 5,000 a unit? more? less?
Thanks guys!!
Most Popular Reply
@Tasha Davis I think it depends on the age of the property. For older properties you definitely need to put more aside, if maintenance hasn't been performed appropriately in the past. Do you know the age of the roof/mechanicals in the units?