All Forum Posts by: Jonathan Sher

Ferguson, a litte east of St. Ann. There are some nice parts of St. Ann, I'm always on the look out for deals there

Can someone shed some light on posting pics? did I quote it right above?

ahhh, Trying to post a pic, thought I figured it out...obviously not

admin edit: fixed pic

Haha thanks Josh, I'll just say that I don't venture that far out of my state. Thanks for changing the sub-forum for this post.

Mitch, The houses I come across are typically in the 25K-40K range. For example this SFR I am buying is for $29,500 and rent in the area is around $800 a month. It's crazy to think that this house sold for $99,000 in 2006 (Year I know its the past).

Excuse my use of the wrong sub-forum...

Hello fellow BP friends, I have read many discussions on here about the 2% rule. To my advantage, I have been finding deals that exceed the 2% rule. I am about to close on a house that turns out to roughly be 2.7% turn-key rentable. These are not war zones, I feel very comfortable going into this neighborhood and walking around. It feels weird to me now to say "hey the 2% rule is not good enough" when that seems to be the rule of thumb for pre-qualifying (on paper) a property. What are you guys accepting and finding in your areas??

Pure business decision. I'm sure we have all seen it, the house for sale for $10,000, looks like several people died in it, mold growing, trash everywhere, structure looks like its going to fall over. There is very little market for that, its probably cheaper to just knock it over and get the tax deduction by donating it to the municipality.

Hello BP friends, I wanted to get some opinions on the coverage I think is the best for me, but is the most expensive..

This quote for $1377 annually covers the following

Building/Earthquake - $130,000
Personal Property - $6,000
Personal and advertising injury - $1,000,000
General aggregate liablity - $2,000,000
medical- $5,000

The positive about this is that it's a commercial policy and not a personal line of coverage. This means we (me and my partners) don't have to give our SS# and personal info to the insurance company (Want to use the LLC to protect as much as we can).

When this policy goes into effect, we will only have 1 SFH that we will rent. What do you guys think? I think its kind of expensive, but its the best policy I have found...

Any addtional properties we aquire will be covered by this policy, we would just need to obtain insurance for the dewelling, so our average cost of coverage per house will eventually go down.

I Personally go for $1,000,000. I would rather pay an extra $200 a year for that protection, just depends what your risk tolerance is, $500,000 would certainly be better.