All Forum Posts by: Alecia Loveless

@Brandon Campbell I would be interested in joining such a club if Zoom or other online meetups were available.

@Kevin Sobilo totally agreed. This is also what we do.

I'd keep the 1.74 for as long as possible. If you're in the US it's likely going to go up to 7ish if you refi which will likely kill any cash flow you've got left after increasing your loan amount. 

I'd bank as much cash flow as you can between now and when the loan's up. Then worry about interest rates then. 

@Brent Thomas The current cost of flood insurance for a building in a flood plain may need to be considered.

I just looked at a 4 plex in a flood plain. The homeowners insurance was about $2500 but the flood policy was $10,000.

This alone was enough to deter me from any further consideration of this property as without factoring in any other information $1000+ per month in insurance ate up any cash flow that there might be otherwise.

@Michael Kare As my tax return has become more complicated over the years due to multiple properties I have come to realize it’s just worth paying the deductible expense to have an accountant prepare my taxes.

My 2023 tax return was over 70 pages long. It was beyond the scope of my ability to even think about preparing it.

I’d recommend you stop using accounting software that’s designed to prepare tax returns for people who have very little more than a W-2 income and no assets and hire an accountant going forward.

@Simone Montague-Jackson in my area some of the Realtors help provide this service and have some avenues of advertising different than just Facebook marketplace which may also include posting the listings on the MLS. The local going rate to get a realtor to help with your rental marketing is equal to one month's rent.

@Diego Martinez My main criteria is that if it's a multi it must have pure cash flow of at least $200/unit after all expenses. This includes a percentage saved for CapEx, repairs and maintenance and Vacancy. If it's a SFH I'm looking for pure cash flow of at least around $600/month.

Most of my buildings include an owners account and monthly expense for electricity and about half of them also have a trash charge monthly. If you live where there is curb side trash pickup this cost is probably included with your taxes or fees from the city. But if not it can easily be between $150-$250/month which can really eat into your cash flow if you didn’t underwrite for this expense.

@Corey G. It never occurred to me that this was a thing.

I just use my personal vehicle for everything and keep track of mileage.

I’d think this might be a question for your accountant. Or an independent insurance broker.

I bet the basic insurance representatives at Progressive or whatever don’t know enough about the situation to actually make this call.

It seems like if the business designation was $350 more expensive then of course that is what they said so they’d make more money.

@Diego Martinez My strategy is long term buy and hold. I did not go into investing with a plan for an exit strategy.

The only property I have sold was because of a physical issue that we ended up not being able to remedy which created a liability nightmare for me.

After several months of trying to find a contractor I determined the liability was too great and listed the property.

Unless you’re planning to do fix and flips it may be easier to figure out what your financial goals are for the property and let that dictate your end results.

@Erik Epperson I have worked with S.O. For close to 15 years. The vast majority of them have all believed their victims were at fault and wanted the sexual contact.

Many of the people I worked with had dozens of victims, a few closer to 100.

There was no remorse from them for their actions and despite years of treatment I believe 100% that if left to their own devices they would reoffend.

There may be some instances where there are different situations but you will have no real way of knowing this without totally discriminating against them.

I would not knowingly rent to any S.O.