Newbie landlord questions

4 Replies

Hello,

I am considering purchasing a home and renting it out. What percent is standard that you use towards "emergency repairs etc" after the tenants pay rent and after mortgage. I am super new at all of this, any feedback helps.

Welcome to Bigger Pockets! This is a great place to read, and learn about becoming a Real Estate Investor (REI). Here we try to 'pay it forward', and help other investors who are just starting out by paying back the knowledge we've gleaned from reading in these pages to other investors. Most of the answers to the basic questions you're asking have already been answered here numerous times.

There are plenty of free guides here on Bigger Pockets - starting with "The Ultimate Guide to Real Estate Investing" https://www.biggerpockets.com/files/329/download.

And MORE in the Bigger Pockets 'Guides' section https://www.biggerpockets.com/guides

I always recommend new investors start by reading long-form books on REI. Books like "Landlording on Autopilot" by Mike Butler, or "The Millionaire Real Estate Investor" by Gary Keller. The deep-dive content one can gain from reading long-form books is unique, whether those books are in physical, or electronic format.

I'm not surprised this generic question hasn't gained more traction. Most of the questions here are from folks who've already taken their first steps by reading, and determining what type of real estate investor they want to be. They've set guidelines for their comfort levels on things like: Location, Property type - SFH, Multi-family, Apartment complex, commercial, other - etc. Most folks ask specific clarifying questions from the experts at BP. People busy searching for details on specific problems that are currently bugging them (i.e. tenant issues, financing issues, etc), and are NOT thinking back to when they were themselves day-one investors. Best of luck on here. You've come to the right place.