All Forum Posts by: Megan Aldridge

In my experience, if the HOA policy has exterior/structure/roof covered usually a "condo policy" that covers drywall-in is what you'll need. Your tenants should get renters insurance to cover their personal property. You may/may not want a little personal property on your policy too to cover appliances and such...up to you.

MF is my next step!  Thanks for the book recommendations, @Danielle Fattizzi and @Billy D. and @Bridget Smith-Osbourne!

Thanks @Account Closed....Nerd Night sounds interesting!  Will look into it! 

Anyone think we should INITIATE a BP Meet-up in the Central Florida area?

Is there a BP meet up in Central Florida?

Really it depends on your strategy:  Are you looking to keep investing right now?  Are your goals volume or more for passive income.  I'm really with @Kevin Harrison about keeping the property, refinance it with cash out and use the cash to buy a few new properties.   HOWEVER, if you would rather switch from SFHs to multi-family (or other similar changes to your portfolio) then sell and re-invest in a property more in line with what you want.  OR again, you re-fi, cash out and invest in the multi-family you're looking for.  The great news is you have a TON of options!  Congratulations!  Excellent cash flow!

My rentals include washer/dryer, dishwasher, fridge, microwave and stove/oven.   I think this is pretty standard in my area.  I try to provide a B+ property to rent so I feel this makes me competitive.  Also, I agree with the commenter above who indicated that providing the washer/dryer ensures the supply lines are installed correctly.  

I'm a conservative investor, so I favor the 30 year loan with no pre-payment penalty.  It still lowers your payment by a couple hundred which hopefully improves your cash flow.  On the flip side, re-financing can be a good opportunity to cash out for a new investment which is something to consider as well.  So you could refi that prop and then cash out what you may need for  down payment or rehab funds on a new project.   I always favor spreading out the loan because I figure if the "stuff" hits the fan, the lower payment will be easier to handle.  

Hi Martha! I'm an investor-Realtor in Central Florida, familiar with HUD and Homeopath. Let me know if I can help you!

Welcome to investing in Lake Mary and Sanford!! I have 2 rentals in Winter Sprongs and hoping to do multi-family in Sanford or Lake Mary! I'm also a Realtor and HUD-approved agent - let me know if I can help at all neighbor!!

I'm trying to decide the same thing.  Thanks for the post!  I have two rentals. One we bought cash, The other has a relatively small mortgage. I'm very debt aversive, so for me I'm leaning towards paying down that mortgage just to get it to the 1/2 point on the amortization and then the monthly payments will hack away at the principle more than pay the bank interest.  I know most of BP will say "leverage! leverage! leverage!", but I was raised by a CPA/CFP and was brain washed from a young age that all debt is bad, so my real estate investing is stretching me a little....I need a good stretch :)

I think it's all about how debt aversive you are....a middle-of-the-road idea is to pay a bit extra on the mortgage each month and save the rest of the cash flow.