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American Psycho's avatar

These myths are certainly just that, myths. I once had a tenant tell me that the kitchen sink was clogged, I asked if she put anything down the drain that should not be there. I was told “no, but sometimes I wash my hair in the sink.” I responded “you know the bathroom has a shower?” Tenants will never let you down with dumb stuff they do to/in your property. 100% make sure you have many thousands of dollars saved for repairs because expensive things (Hvac, water heater, etc) will absolutely break due to improper use.

Finally, I concur with the $1MM into treasuries. If/when the market pukes you could buy longer dated treasuries with part of the money and use the interest coupon to offset a future mortgage payment (or fund those pesky repairs).

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Jason Leonard's avatar

Really enjoyed this honest take - thank you!

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