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Updated about 10 years ago on . Most recent reply

Seth Jacowski's profile image
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Seth Jacowski
  • from Bloomington, Illinois
  • Member since Nov 15, 2014
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Seth Jacowski
  • from Bloomington, Illinois
  • Member since Nov 15, 2014
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Seth Jacowski
  • Bloomington, IL
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Buying & Selling Real Estate

Back Up Funds

Seth Jacowski
  • Bloomington, IL
Posted

Hi all,

I recently bought my first rental about 4 months ago. I think I am ready to buy another one but am curious on what others stance is on reserves. How much cash do you keep in reserves in case of emergency. I dont wanna spread myself too thin.... Just curious on what everyone's strategy is....

Thanks,

Seth

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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
ModeratorReplied

We transfer a set amount for vacancy, repair, and capex into an account each month.  At the end of the year we keep $30k in the account and use the rest on preventive maintenance or upgrades.  Then we start all over again.  

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