Well, as the saying goes, when it rains, it pours. In my last post, I discussed how Murphy’s Law was evident at one of my properties. My terminate inspection renewal came up and I had to shell out over $900 to ensure I don’t have termites. Prevention, after all, is better than the cure. But, apparently, Murphy wasn’t done with me. I had to deal with another maintenance issue at one of my other properties. For some reason, I just can’t catch a break. Although we are in the busy season, my finances are still tight. That’s because of I had a massive federal tax bill I had to pay. In fact, I paid my taxes on my credit card! I also had to pay high property taxes on one of my condos. Well, let’s just say that the struggle is real. So, without further adieu, let’s see how Murphy’s Law affected me again.
Dryer Power Button Broke
Unfortunately, my guest at one of my condos informed me that the dryer was not working. I tried getting my handyman to fix it, but he didn’t feel comfortable fixing the appliance. Based on his recommendation, I contact an appliance repair company and they were able to fix it. The problem though is that the bill is over $600.
At that price, it made total sense for me to get a new dryer. However, I elected not to do that. Because I rent out the unit on a short-term basis, I had another guest who was set to arrive soon. So, I decided, for better or for worse, that the best approach was to go ahead and fix the problem. I had matching washer and dryer sets. The time it would take to find and replace the dryer was not ideal.
In the long run, my plan is to set aside funds for maintenance expenses. But, I can’t do that right now. I’m just treading water. Every time I think I might have some breathing room, something pops up. Darn you Murphy! But, I’m going to keep going.
Final Thoughts
Owning real estate is not easy. It’s very easy for an investor to just focus on the potential rent that comes in without paying adequate attention to the expenses that can occur.
Although I’m in a financial crunch right now, I am optimistic for the future. I am contemplating acquiring another source of income. I figure every little bit helps. If I do, it will help alleviate some of the financial burden I am in right now.
In the mean time, I will continue to report on my progress, whether it is good or bad. Although it is true that sometimes when it rains it pours, it is also true that it can’t rain forever.
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