All Forum Posts by: Taf Reid

Sounds awesome, keep us posted on how it goes, would love to see the before n after pics and final numbers. 

Great Story and even better parenting! I will try to do the same when my kids get around that age. 

DO NOT USE ANY INSURANCE QUOTE AS AN ARV... In insurance you are insuring the cost to REBUILD in the event of a total loss, NOT MARKET VALUE... completely 2 different numbers. The cost to rebuild could be much higher or much lower than the market value of the property.

use the recently sold comps to determine your ARV.

If the cost of insurance is eating your cashflow now, then it will only get worst as the cost of insurance is going up in FL specifically for coastal properties (ie. within 5 miles from the beach)... insurance companies are filing for rate increases and flood insurance has gone up significantly since the remapping of the flood zones... you could always shop around for better rates but don't expect rates to go down significantly in the near future... 

Hi Lance,

Is it better to set up the LLC as an S Corp when flipping or no?

I'm a general lines Insurance Agent working in property and causality insurance for residential properties and interested in investing in real estate. I've been browsing the site reading up for some time now and finally ready to give it a go. I found a local reia and will attend and take it from there.

Amazing job Eyal!!!

very inspiring & motovating! Thx for sharing