Most investors under estimate the costs of running property. Every 5-7 years it will need a new kitchen, constant replenishment of the inventory, bathroom, carpets, major / external stuff like a roof, windows or boiler, re-pointing
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For the majority of properties that just isn’t the case. I’ve had one property for 21 years and apart from replacing the worktops the original kitchen is still fine, replaced the appliances once in that time. I’ve replaced the carpets and redecorated a couple of times but it’s a one bedroom flat so hardly any cost. I usually tidy up any scuffs on the walls between tenants.
On another property I’ve had for 15 years I replaced the fridge freezer. That flat needed redecorated once and a tidy up before I sold it last month.
major / external stuff like a roof, windows or boiler, re-pointing.
How often do you think you need to replace windows, roof boiler and repoint a property? And constant replacement of bathroom – really?
I guess it depends in the sort of tenants you’re letting to and how good your agent is.