Hi there, when you get up to say between 5 to 10 properties or more how do you fund repairs and maintenance ? Especially when say 3 of your properties need painting at approx $12K each. Do you need to have a fund available (savings of 30 or 40K ) so you can comfortably fund the larger maintenence costs? Thanks
@AusPropertyMasteryWithPK OK thanks PK, so yes allowing approx $50 a week would cover the normal maintenance costs etc that you would get over the year but then you'd have to budget another approx $2k per year per property to cover the once a decade paint and redecorate wouldnt you? If your property cashflow doesn't allow that then you'll have to save it yourself.. that's alot to save per property. I just want to know how people fund the large once a decade maintenence bills.. I suppose you could also top up the mortgage and fund it that way too? Thanks
Early bird gets the worm..But it is the second mouse that gets the cheese 🪤
Insightful. Well done!
Good job man
Hi there, when you get up to say between 5 to 10 properties or more how do you fund repairs and maintenance ? Especially when say 3 of your properties need painting at approx $12K each. Do you need to have a fund available (savings of 30 or 40K ) so you can comfortably fund the larger maintenence costs? Thanks
Normally keeping aside 2kish budget per year per property suffices
@AusPropertyMasteryWithPK
OK thanks PK, so yes allowing approx $50 a week would cover the normal maintenance costs etc that you would get over the year but then you'd have to budget another approx $2k per year per property to cover the once a decade paint and redecorate wouldnt you? If your property cashflow doesn't allow that then you'll have to save it yourself.. that's alot to save per property. I just want to know how people fund the large once a decade maintenence bills..
I suppose you could also top up the mortgage and fund it that way too? Thanks
In Australia very soon 1 chicken leg pieces sell at 100k and median house price for 1 bedroom going to be 1 million trust me 😢
Inflation under control they said...Someone lied to us about the inflation rate vs the interest rate...Because that's all they can do..Lie
Hi. Great content. any your on Launceston Tas ?
Cheers, it’s likely to have another low year like last year