Expensive repair on rental. Should I do it?

[Supada L.]

Hello,

I have an out-of-state rental that I've relied on the property management to take care of it. I have owned the property for about a year and there has been minor fixes that already turned my first year cashflow negative.

Earlier this year the tenant has submitted a repair request for the drive way as shown in the pictures below. My PM got a quote for $5500 to repair it. Should I let them do it? Or is there a way to mitigate the cost? Any suggestions are welcome.

Thank you in advance,
Supada

The tenant complain: "Driveway pavement is coming up & it is tearing up the front end of my cars!"

[Steve Vaughan]

Originally posted by @Supada L.:

I have an out-of-state rental that I've relied on the property management to take care of it. I have owned the property for about a year and there has been minor fixes that already turned my first year cashflow negative.

This is the lesson here.  OOS managed rentals can't cash-flow when the Maytag Man needs to be called for every little thing.  Period.

OOS 'passive' rental ownership should be more of a wealth preservation strategy rather than accumulation needing cash-flow strategy.  There will always be minor fixes. 

Yep, definitely replace that driveway with concrete.  Need to think long-term👍