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Updated over 5 years ago on . Most recent reply

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Tyler Thavong
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How was your first rental experience like?

Tyler Thavong
Posted

I'm saving up for a down payment and looking forward to buying a rental. How was your experience and when did you start? Errors and solutions? And lastly worries?

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Robert Biggerstaff
  • Contractor
  • Pensacola, FL
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Robert Biggerstaff
  • Contractor
  • Pensacola, FL
Replied

It was the most awesome feeling to receive that first rent check. I feel like a kid on Christmas morning each time the first of the month rolls around. The biggest thing I see a new investors do is they spend the money that they make from the rental properties. It is crucial to leave that money alone, and let it grow for you. Just remember that taxes, insurance, water heater, repairs, new roofs, all have to come out of that money.

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