How Much Should You Budget for Rental Property Repairs & Maintenance? | Real Estate Investing Canada

🎧 How Much Should You Budget for Rental Property Repairs & Maintenance? Real Estate Investing Morning Show – Hosted by Wayne & Gabby Hillier Today's episode dives into a critical but often overlooked aspect of real estate investing: how much money you should be setting aside for repairs and maintenance. Wayne and Gabby share the importance of protecting your investments with a healthy reserve fund, why ignoring repairs costs you in the long run, and the real math behind budgeting for replacements like furnaces, roofs, and appliances. They also follow up on yesterday's listener email about starting to invest at 63, breaking down what strategies are realistic—and which ones to avoid. 🧠 What You'll Learn in This Episode Why every property needs a reserve fund from day one The difference between repairs (unexpected) and replacements (inevitable) How much to set aside monthly for long-term property upkeep Common costs of furnaces, roofs, hot water tanks, and appliances Why ignoring bookkeeping and tax efficiency leaves thousands on the table The risks of chasing "unicorn" BRRRR opportunities in today's market Why fix-and-flip strategies aren't a safe option for retirement planning How strong cash flow acts as a buffer against vacancies, rate hikes, and repairs 👥 About Your Hosts Wayne & Gabby Hillier are full-time real estate investors and coaches based in Edmonton, Alberta, Canada. Through their REI Masters Mentorship Program, they help Canadians build long-term wealth using rental properties, BRRRRs, flips, joint ventures, and creative real estate strategies. New episodes every weekday morning featuring real stories, coaching moments, and tactical investing advice. 💡 Resources & Contact Learn about our Mentorship Program: www.reimasters.ca Bookkeeping & Tax help: www.finngo.com/rei Submit a question: [email protected] 🤝 Thanks to Our Sponsors 🏠 Krystal Kromm – Red Deer Investor-Focused Realtor 📞 (587) 377-8584 🔗 Facebook 🏢 Calvin Realty – Edmonton Investor-Focused Realtor Team 🌐 calvinrealty.ca 🔗 Facebook 📊 Finngo Bookkeeping & Tax – Investor-Focused Accounting Firm 🌐 www.finngo.com/rei 🔗 Facebook 💼 Kirkwood & Brennan Mortgage Group – Investor-Focused Brokers 🌐 www.kbmortgages.ca 📧 [email protected] 🔗 Facebook 🏗️ Calvert Home Mortgage Investment Corporation 📞 403-278-0249 📧 [email protected] 🆔 FSRAO License Numbers: 13267 and 13268