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All Forum Posts by: Adriana Mendonca

Adriana Mendonca has started 8 posts and replied 21 times.

Post: Please Tips to fund my second property

Adriana Mendonca
Posted
  • Florida
  • Posts 21
  • Votes 2

Thank you so much Caleb, very good point. You gave me great insight!

Post: Please Tips to fund my second property

Adriana Mendonca
Posted
  • Florida
  • Posts 21
  • Votes 2

Hello, everyone. We need some advice on buying our second property. We are thinking of a multifamily property with an FHA loan in order to house hack. We are noticing that it isn't easy to have positive cash flow on a duplex or triplex since one unit has to be owner-occupied, but sometimes it's just barely profitable with a four plex. Does anyone have any tips? Or should we just see if we can handle the negative cash flow loss for the first year with the duplex or triplex? Thank you all!

Post: Starting with 1 property "Newbie" / Mentor advice/ wanted to Grow.

Adriana Mendonca
Posted
  • Florida
  • Posts 21
  • Votes 2

Mr. Gesner, thank you so much for inspiring us.  It definitely seems possible.  We are encouraged by you! We will keep in touch!

Post: Starting with 1 property "Newbie" / Mentor advice/ wanted to Grow.

Adriana Mendonca
Posted
  • Florida
  • Posts 21
  • Votes 2

Thank you so much for the two direction tips you gave us and for the recommendation about Mr. Quilenderino. Your recommendations definitely cleared up our minds for possibilities. We appreciate it!!

Post: Starting with 1 property "Newbie" / Mentor advice/ wanted to Grow.

Adriana Mendonca
Posted
  • Florida
  • Posts 21
  • Votes 2

Good morningMr.Lee III, sorry to hear about your fsther's passing. I am sure you found your Real Estate path. I am glad that you are here, sharing with us your ideas. Yes, we have consider multifamily but right now we still have to work on the finance for this project.

Thank you very much for "talking" to us. We will keep in touch!

Post: Starting with 1 property "Newbie" / Mentor advice/ wanted to Grow.

Adriana Mendonca
Posted
  • Florida
  • Posts 21
  • Votes 2

We ( my 18 years old son and I), bought our first property last August,  it's cashflowing nicely.  We are trying to find an " opening " to buy our second one here in Florida. We are eager to hear from you guys, tips, experiences anything that will help us keep going in the right path. 

thank you all!!

Post: Is anyone using with Turbo Tenant? Is it a good tool for beginner

Adriana Mendonca
Posted
  • Florida
  • Posts 21
  • Votes 2

Thank you so much as well Nikhil, very helpful too! A lot of great info!

Post: Is anyone using with Turbo Tenant? Is it a good tool for beginner

Adriana Mendonca
Posted
  • Florida
  • Posts 21
  • Votes 2

Thank you so much Vic Caldwell.

Your comment was very helpful in reassuring us in this idea we had with the screening software, thanks again.

Post: Is anyone using with Turbo Tenant? Is it a good tool for beginner

Adriana Mendonca
Posted
  • Florida
  • Posts 21
  • Votes 2

Hello to all BP family members.I hope you can assist us in this matter.

Is anyone familiar with TurboTenant or Tenant cloud or aveail?

We just began with a rental sign to rent our first property to experiment the market and now, we have a few potential tenants calling for this property. we are looking for some type of secure system for us to begin with.

We are still in the process of put our system together , however, the potential tenants came before that.

Thank BP family. in advance .

Post: Rental liability property

Adriana Mendonca
Posted
  • Florida
  • Posts 21
  • Votes 2
Quote from @John Mocker:

Adriana,

Generally you can get Liability with the coverage for the Building. If it is a 1-4 family rental it would most likely be covered under a Dwelling/Fire policy (some companies will call it a Landlord policy or similar name). That policy can include Liability coverage. If it is a 5+ unit apartment, mixed use residential & merchantile, etc. it would normally be covered by a Commercial Package policy or BOP policy. Both of which can include Liability. If you are being quoted just Property Insurance you should question the agent about why. Some Insurance carriers still do not cover business entities (corp., LLC, ...) on a Dwelling/Fire policy but their are plenty that do. You may need to seek out other quotes find the proper coverage if the existing agent/company can not provide it.

Hey John, 

thank  you so much for sharing this great information with me . Super valuable.  I will definitely check around .