Amount of reserves?

[Derrick W.]

Is there a formula or general rule as to how much reserves you have set aside per property?

[Chris Mason]

Put in your head the greater of six months PITI for each investment property, or...

2% of unpaid principal balances if you have 1-4 financed properties.

4% upb if you have 5-6.

6% upb if you have 7%+.