How Much Cash Should You Keep In An Emergency Fund? With Nick Wood (Ep 494)
Update: 2024-11-05
Description
Nick shares how having an emergency fund helped him pay for expensive repairs to some of his rentals.
He talks about how much he spent on the repairs and why he didn't file an insurance claim.
We also discuss Nick's rule of thumb for figuring out how much money to set aside for emergencies.
Nick also talks about how his income at his day job has been reduced recently and how having a combination of an emergency fund and cash flow from his rentals has helped him survive this period.
Thanks To Our Sponsors:
The Guarantors - Protect your property against losses rent defaults, vacancies, lease breaks, damages, and more. All without increasing your operating expenses.
Ridge Lending Group - Mention Rental Income Podcast for a $250 credit at closing.
https://rentalincomepodcast.com/episode494
He talks about how much he spent on the repairs and why he didn't file an insurance claim.
We also discuss Nick's rule of thumb for figuring out how much money to set aside for emergencies.
Nick also talks about how his income at his day job has been reduced recently and how having a combination of an emergency fund and cash flow from his rentals has helped him survive this period.
Thanks To Our Sponsors:
The Guarantors - Protect your property against losses rent defaults, vacancies, lease breaks, damages, and more. All without increasing your operating expenses.
Ridge Lending Group - Mention Rental Income Podcast for a $250 credit at closing.
https://rentalincomepodcast.com/episode494
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