What’s up, everybody? Matthew Whitaker here, I’m in the car traveling. And I’m with Grey [SP] who challenged me to do a video a day. So, I’m getting it done right now in the car.
So, hopefully, the acoustics are okay. This is “Questions Owners Ask.”
Today’s question is, how long should I own a rental house? So, I’ve got some pretty good ideas on this.
But one of the things I wanna tell you is, just to give you some of the data that I’m saying is that, typically, once a house has been rehabbed the first two or three years I call it the honeymoon period.
So, if you own a house for two or three years, your repair maintenance number is gonna be significantly less than then that it is going forward.
Years two through probably six or seven you’ll have kind of common repair and maintenance issues, these are things that kind of once the honeymoon’s kind of phased out you’re gonna have kind of a more natural number.
What I found is that eight to…eight years and beyond is when you start to get into big capitalizable expenses.
That’s things like roofs, heating and air conditioning units, major plumbing, major electrical type of stuff. And so, one should be prepared for that.
So, if I want to say the sweet spot owning a rental house would be between five and eight years.
That’s…people ask me that all the time and that’s kind of the number that I give them and then I already gave you the reason why give that to them.
This is Matthew Whitaker with “Questions Owners Ask.” Again, today’s question is, how long should I own a rental house? Have a good day.
Matthew is the CEO of Evernest. He is a student of the book Good to Great and is passionate about building the best property management company on the planet (and maybe even the universe if Elon Musk will hurry up). You can usually find Matthew at the baseball field with his son, at a dance recital with his daughter, or at his favorite restaurant with his wife, when he’s not in the office. And if you can’t find him in any of those places, it probably means he’s traveling.