Drowning in repairs, any advice would help

[Mann Phan]

Hello fellow BiggerPockets members,

I find myself in a bit of a bind with my real estate investments. Last year, I took an aggressive approach and purchased six rental properties in the Midwest, specifically in the Cleveland and Akron areas.

A year has passed, and two of these properties have significantly drained my cash flow due to extensive repairs. Recently, my property manager informed me that an HVAC unit needs to be replaced, which will cost $7,200.

At this point, I’m considering offloading some of the properties as the current situation seems untenable. I would greatly appreciate any advice on strategies to mitigate these issues and manage my investments more effectively.

Thank you in advance for your insights.

[Matthew Paul]

Once the HVAC unit is replaced , its done . Repairs are going to always be necessary , some will cost more than others . With 6 properties I would want a reserve of a minimum of $15K . Some years expenses will be low and others will be high . Just the nature of the business