All Forum Posts by: Brittany Daubner

@Costin I. Wow! Thank you for all the information!! All very helpful on my journey getting started! :)

Hi all,

I'm trying to go back to the BP Podcast episodes to the find the episode with Proper Insurance as a guest, and I can't find it. I'd like to go back and re-listen to it (if anyone knows which episode number it is).

Basically - I'd like to know what questions to ask an insurance agent to get the best policy on an STR. What key things should I seek coverage for? This will be my first ever purchase, so all of this is new to me. Any advise/suggestions are helpful starting points and information. Thank you!!

Hi all,

I'm hoping to go under contract on my first STR investment property very soon and I was wondering if anyone has any type of check list to "complete" during the due diligence period? Or if someone has any past experience and strong recommendations of what to look out for or what inspections/quotes to get other than appraisal and insurance? If it helps, I'm looking at (mostly turnkey and/or minor cosmetic updates for my first property) cabins in the smokies and SFH in FL. I will be financing. I'm sure this probably depends on age as well, but any general tips or information I can look further into is very helpful and much appreciated!

Thanks BP community!

@Nicholas L. thanks! I'd like to invest out of state because my area is so expensive.

Would you be able to narrow down staying organized/what to keep track of? Feel free to send me a message if that's easier. I realize this is a lot to cover in a forum post, but wanted eyes on it and feedback. Appreciate your time!!

Hi BP community,

I will be doing loads of research throughout August to try to solidify my foundation as best I can to start making offers on properties in September. I'd like to start off organized and make sure I'm keeping track of the right information. I have quite a few questions that I hope someone can help with:

- Can anybody share what systems they're using to track things like property address, purchase price, sq ft, bed/bath count, ADU/No ADU, STR, LTR, MTR, repair costs, monthly debt service payment compared to monthly rental income per property, etc.? For example, Excel, Access, or other platforms/programs? Is there something else I should be keeping track of or a general "list"? What general information do CPA's and tax professionals need to best help with tax deductions and filing taxes? Does this depend on the type of REI I'll be doing (STR, MTR, LTR, Seller-finance, etc.)?

- I'd like to keep my portfolio funds separate from my personal accounts. Is anybody able to share what they're comfortable opening an account with ($500, $1,000, $10,000?) as well as a max amount recommended to keep in the account ($100K, $500K, or $1M)? Or any other information that's helpful to lookout for related to this?

- What's the best way to protect my asset and rental income?

- Can someone share an analysis for a "good deal" in today's market versus a "stay away from" deal (for turn-key or cosmetic touch-up properties)? I'm trying to make sure I'm analyzing deals correctly. I use the BP calculators, but how do I know a good deal is a good deal? As long as it cash flows? And then does that depend on the amount of cash flow I'm willing to accept to try and acquire the asset for? Do you calculate the amount of money put into the deal into if it's a good deal (EX: $150K house, $30K down payment, $5,000 renovations, cash flow is $250, would take ~12yrs to receive my ROI)? But what if appreciation exceeds the average market? What is "average appreciation"? Is there a website to find this information?

- What about STRs; How do you know you're pricing it appropriately to stay competitive? What governmental websites are people using to make sure their property is allowed to be an STR?

- Narrowing down your market: How do people choose their markets? Do they start with "Orlando FL" is growing as an interested market, check population growth in the specific city, employment rates and average median income, and then find the property and the do comps for rentals in the area to see if it would support it? Am I overthinking this?

Am I asking the right questions? If not, what should I be looking for? Thanks in advance for any and all feedback! Much appreciated in my research! :)

Hey y'all,

I tried finding an agent through the BP tab tool, but only one agent popped up for the Ocala FL area and they haven't responded. I was wondering if anyone has any recommendations for someone they've worked with in the Ocala area that's investor friendly before I start reaching out to agencies in the area.

Thanks so much! 

Brittany

 I saw that! That's awesome! Thanks again! 

 Hi Lucie, I'd love to set up a time to chat! I'll message you. Thank you!

 Thanks for the edit! I'm also in the process of obtaining my real estate license to hopefully be my own agent, which would be nice in some cases. But also very helpful information! Thank you!

 Thanks @Dylan J Berget! I appreciate your comments and your time today! I thought so, but always good to hear from other people and do some research if needed. :)