All Forum Posts by: Blake Woodham

Hey BP Fam, 

I was curious if anybody has ever hired a drone (mini RC helicopter) to take aerial video or photo's of a listing? I found an good deal on a very nice drone, and the guy said he used it several times for agents on their new listings. He said the average price was $100-150 per home. 

I think it would be really cool to have a drone, but I'm all about investing my money so I cant justify making the purchase without any practical use. 

So, my question to you experienced agents and brokers is: Would you, or have you ever hire a drone operator to take aerial footage of your property? 

I would also be doing the video editing, I can put some text throughout, and a voice over if desired. 

Any feedback would be greatly appreciated! Cheers! 

Good find! What was the listing price on HUD? Just curious how much discount they are giving off of list price.

Keep us updated! 

BP, 

I have been looking for multi family units to purchase to increase monthly cash flow. Just cam across this one on Craigslist. Seems like a great deal. 

Asking price: 129,900 (reduced from 149,900) 

3 units total. 1 Duplex (each unit 3br/1ba) and 1 separate 3/1. 

each unit in the duplex is rented for $500, and the separate home is rented for $600. Taxes are 900 annually, and insurance is about 1400. 

This seems like a great deal that will cash flow nicely, but I need to figure out financing. I do not have enough saved up for the 20% down required by most banks. I have looked at taking out a personal loan, but the cash flow will not cover the monthly payments.

Do you know of any other options I could explore to get this deal with little to no money down? Seller is not interested in owner financing... I already asked.  

@JPaul Mills Although I cant help you right this moment, I may be able to in the coming 6 months. I am working on getting my license now and will be back to the FWB area in spring time of next year. I will be primarily focusing on HUDs, and REO's. I will get back with you when I am a registered HUD agent...

@Colleen F. Wow! That seems a bit drastic. Good to know though. I didn't realize some insurance companies were that thorough! 

As for my property, its a bit of a chance but I feel comfortable with the insurance backing me. The property is still cash flowing with a pool company coming out every week to service it. It is also my first rental unit. I will definitely not be buying any more properties with a pool unless the deal is that good. 

@Matt R. Ended up getting the policy with Federated National Insurance Company out of Sunrise, Fl. 

Well after going around and around with the insurance broker, they finally found a company that will insure the diving board. It actually worked out better for me because my coverage went up on the house, and the annual premium actually went down by about $50. 

Win-Win for now. 

@Jay Helms Thanks for the reference, I will give her a call soon. 

@Colleen F. Wise words. I will see if I can get it fully insured for cheap. If not, I will definitely be looking to remove it. If I recall correctly, my rental contract should relieve me of any liability for the tenants or their guest... I will have to dig into it a bit deeper to make sure on that one... 

BP Community, 

Got an email from my insurance company this morning stating "You have to remove the diving board. Have a nice day."

Background: I rented this property out 2 months ago after living in it for a year. I had the same insurance company while I lived there, and they did not say anything about the diving board on the pool. 

Now that I transferred the policy to a rental, they are saying I have to remove the diving board.  I already have tenants, and I honestly do not want to remove it, as it has been there since the house was built in '97. 

Any words of wisdom in dealing with a situation like this? Anybody in the Florida panhandle  (pensacola, navarre, gulf breeze) have recommendations for "diving board friendly" insurance agencies?

Steve, Welcome to the Forum! I actually just graduated from the CSO schoolhouse down in Pensacola and bought my first investment property down there. 

Good Luck and welcome! 

- Blake