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Discover the knowledge, skills, and resources necessary to improve your financial health and ultimately build a financially secure and independent life

Damned if you do...damned if you don't!

During our recent trip to the captivating Cape, our daughters commented on how perfect everything is, no potholes, all the roads are clearly marked, everything seems to be freshly painted – it literally sparkles.


Compare this to Jozi where I dodge no less than 3 potholes while navigating the 2km road to drop our daughter at school.

What’s the difference?

Maintenance.


The Cape knows how to do maintenance while Jozi behaves like an amateur property investor who bought up loads of properties and then ran out of cash to maintain them.


How to avoid this pothole?

Make sure you save 10% of your monthly income every month to cover maintenance costs. Even if your property is BRAND new, even if the builder literally just left the umm, building!


There will be some months where no work is required at all, no new light fittings, no new handrails or awning to stop the rain drenching your tenant as they try to unlock the door during a thunderstorm.


And then there will be months where EVERYTHING breaks, the house needs a new lick of paint and of yes, the neighbors tree fell onto the carport and broke it in half.

Urgh.

Those months you’ll be glad you saved the 10% for maintenance – and so will your tenant!


Being a Property Investor means being prepared to create, and maintain a certain level of “ Cape Sparkle” on all your properties.


“Ah but Tanya, I’ll just use that spare cash over the festive season and make it up again in the new year.”

Me with raised eyebrow: “Unlikely!”


Just be strict on yourself, 10% is saved every single month regardless.


You can't be upset by the results you didn't get from the work you didn't do.

Hozzászólások


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