All Forum Posts by: CO Yilmaz

My point is - there may have been situations in the past where people thought they had coverage but did not due to some condition in the agreement that they were not aware of so overall people do not have good feelings with insurance companies and do not trust them.

@Zachary Paschke SunLife in Canada - my wife works there as an actuary - they have clauses in case of pandemic and I recommend that people check their own policies as well.

It could also be due to bad experience with insurance companies. For example, with the current crisis, some insurance companies are not paying out on their policies because the insurance policy actually has language for cases like a pandemic. So you'll have someone paying a premium for 20 years, they end up dying from the pandemic and then their beneficiaries won't get a payout. 

@Matt Nico and @Ruben Correa - Sorry to hijack the thread - I was looking at Orlando as well but got scared off because I feel that the city is too reliant on tourism. One question that I have is, do you know which sector of the economy do your tenants work in? Is there enough diversification in the Orlando job market?

@Gareth Kindree - The answer to your question also depends on how many properties you're planning to own here in Canada. Having a corporation will make sense once you have 2-3 properties that are producing some cash flow because you'll be paying 1-2k in yearly filings with an accountant. Also in some situations, you can still be personally liable for gross negligence even if the corporation owns the property. For example, if you own a duplex that has a exterior stairwell from the ground floor to the second floor and if the tenant is complaining about the stairwell then you can be liable if that person were to get hurt from it.

Thank you @Benjamin Ernst, @Aaron Bihl, @Collin Corrington

Hi,

Jacksonville is an area that I'm looking at and I was wondering if a local can help me out with this question.

Background: I live in Toronto, Canada and the city here back in the day filled up a part of lake and allowed developers to build homes. As a result of that, whenever someone needs to buy a home from this area, they'll need to find a good home inspector that can figure out if there is a stream of water flowing underneath the basement or not. Another example is in San Antonio - due to the climate and the soil that the city has, foundation issues are common  for a house. These two observations are something that a local person would know.

So my question to the group is: when purchasing a property in this city, is there something similar in Jacksonville, where they might be some type of issue that is common in jacksonville due to geography, soil, or the way that the city was designed.

Thank you Collin for the reply - due to that reputation, is it safe to assume that it would it be an area that a good property management firm would avoid

Id recommend 

Long-Distance Real Estate Investing

By: David Greene

The book is methodical on what to look for and where to get your information from for out of state investing and depending on where you live if might be your best option. Like from where i live, the concept of positive cash flow does not exist

Hi BP

I was wondering if anybody had some insights in the San Antonio market. I'm from Toronto, Canada and I am new to the Bigger Pocket platform. I am still in the learning phase where I'm listening to podcast and reading books.

I have started to analyze the San Antonio market and I have a couple of questions.

I was looking at zipcode 78244 and noticed that the homes were ranging between 120K to 249K while rents had a median value of 1400 to 1600 for a three bedroom home. I used Trulia to look at the crime map of that area and it's low. However when I looked at the schools assigned to the houses in the area, it wasn't great. Those schools had ratings of 3/10 to 4/10.

My question is, does anyone know if this area has something of value to a renter since the rental price of 1400 to 1500 a month is comparable to other zip codes in San Antonio that have better schools.

Cheers,

Can Yilmaz