All Forum Posts by: Dan Hertler

@Dylan H. That is great advice

@Duane Saipaia this sounds like a great opportunity to learn from someone who’s obviously experienced and who you can learn a ton from.

As far as what you can bring to the table- I would say just a great attitude, willingness to learn and work hard. Good luck!

@Edwin Parrilla

Keep us posted on who you end up going with, as I am looking for similar recommendations. I've recently closed on my first SFR in Savannah and am looking to get into a BRRRR type deal later this year.

@Morgan Madill

This is a question of your own risk tolerance. As a newbie myself I kind of had to decide which type of investor I was going to be and what I wanted to achieve in the short/long term helped me out immensely. There are still great deals to be had out there, but I would suggest to look outside of the overheated markets (a quick scan of the top forum posts will give you an idea of which ones I’m referring to).

What everyone has already stated, i.e. time value of money, not being able to time the market, etc. is all great advice, but I think coming to a conclusion on your risk appetite and your short/long term goals is key here.

@Eric Berman

Very interesting and creative use of your financing. A good deal for both yourself and the private money.

Congrats on the deal!

@Eric Berman nice deal! 

What does it cashflow at that monthly rent? Did the private cash require any money down, or was it secured by other RE collateral? Will you have to come to the closing table with cash when you refi, or are you thinking it'll appraise much higher?

I am looking to jump into my first deal in the greater Savannah area within the next month or so, so just trying to get a feel for other deals that have been done

Dan

@Brandon Drayton I am in the same boat as you- all set to make my first purchase and now just looking for the right market and right deals.

Think about your end goal and then backtrack from there. How many houses do you need in your portfolio to get there? What will your target cash flow numbers be for each house, cash on cash returns, etc.?

Once you nail down your specific criteria, just keep networking and making connections and things will fall into place.

That’s my hope, at least! Good luck

@s@Steve K. Your list is super helpful. Hope you don’t mind I screenshot it!

@Aaron K. Thanks for the tip- the FEMA maps are super helpful!

Can anyone share their experience with storm flooding, neighborhoods or flood areas to avoid, any other helpful tips to a newbie investor in the Savannah area?

Much appreciated!

Hello all!

I am looking at the Savannah, GA/surrounding areas for single family rentals and was wondering about flood insurance costs in the area. I’ve browsed the Savannah posts from local investors, but have not seen much mention of flood insurance premiums as being prohibitive to a cash flowing property.

What is the typical cost of flood insurance in the area? Would this cost be enough to erode (pun intended!) any potential cash flows?

I assume the premiums increase as you get closer to the high-probability flood zones. Are there any areas to avoid due to the high possibility that there will be a flood?

Would love to hear from Savannah investors and would appreciate if they can share their experience!

Dan

@R.J. Petrillo

Welcome to the site RJ! I am relatively new as well and also just beginning my journey. Currently living on LI and share a similarly long commute to NYC, affording me time to catch 1/2 podcasts a day.

There are a few of us LIers on here, we should start a meetup!

Good luck!

Dan

@Eric Telese I found this thread while searching BP for investor-focused RE agents located in Nassau County. 

Did you end up making any connections? Any that you may recommend to me? Thanks in advance!