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Investment Real Estate >Planning for Repairs

If you are the owner of an investment property, you are responsible when something breaks down in the building. So when the tenants call with an emergency, you will need to have a list of local repair companies you can contact, and money in the bank to pay for their services.

One of the best ways to protect your property investment is to purchase a home warranty that covers your home against unexpected system breakdowns that can be costly, particularly if the heating or plumbing systems need repair. The yearly cost of a good home warranty is probably less than the cost of replacing a broken water heater. If your property is older, a home warranty will provide you with greater security and peace of mind.

Another way to plan for investment property repairs is by building up a monthly surplus account, where part of your positive cash flow can sit in preparation for the day some major repair is needed. Having a "rainy day" fund will relieve you of financial stress when something has to be fixed.

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Q	What are considered the ideal conditions for a buyer's market?
A	In a buyer's market, there are more houses for sale than buyers, homes take longer to sell, and sellers may have to cut prices.
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Tammy King, REALTOR®, real estate agent and broker for Franklin Lakes, Wyckoff and Oakland New Jersey home listings, property and land for sale - NUMBER1EXPERT(tm)

Tammy King
Classic Realty Group
804 Franklin Avenue
Franklin Lakes
New Jersey 07417
Direct Line: 201-848-4002
Cell: 201-803-6456
Office: 201-848-4002
Fax: 201-848-8777
tammyking@NUMBER1EXPERT.com
Tammy King is the Top Salesperson in the Franklin Lakes, NJ area. She is a Senior Vice President and Manager of the Franklin Lakes office of Classic Realty Group. Tammy leads a sales team of 20 experienced agents. She also holds the CRS designation and her Broker's license. Over 20 years of Real Estate Experience! You expect the best...shouldn't you hire the best?

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