Whether you’re an experienced real estate investor or figuring out how to invest second home or duplex, this factor remains the most crucial, especially when outside forces rear their ugly heads. The violation of this one principle is akin to driving a race car without seat belts.
It’s generous cash reserves.
A second home investment can hit what should be just an unscheduled bump in the road, but instead turns into an ugly fall with a bad ending cuz the investor was workin’ the high wire without a net. That’s only impressive when ya don’t fall.
Abundant, and ACCESSIBLE reserves are not, repeat — are not a luxury. How crucial is a hefty cash reserve in my experience? As a real estate investment broker working all over the country, I refuse to take on a new client without cash reserves at a level allowing me to sleep like baby.
Have enough for a down payment and closing costs? Cool, you’re most of the way there. Now build up more cash reserves than you think you might need. You can thank me later.
Give me a buzz at 619 889-7100 and we’ll look into your situation together. Have a good one.
