All Forum Posts by: Eddie L.

I have a decent deal under contract that doesn't meet my criteria for a landlord hold. However, it is an excellent deal for a flip. My concern is the insurance premium that would prevent a retail buyer from purchasing. I've beat the weeds to find carrier writing policies in Harris County; these are my best numbers. What are your thoughts?

Purchase Price: $215,000
ARV: $275,000

Tax Assessed: $300,000

Rehab: $8,000

Rental Rate: $2,300

Landlord Insurance: $2,500

Home Owners Insurance: $5,000

Property Taxes: $8,000

Year Built: 2018

I have a decent deal under contract that doesn't meet my criteria for a landlord hold. However, it is an excellent deal for a flip. My concern is the insurance premium that would prevent a retail buyer from purchasing. I've beat the weeds to find carrier writing policies in Harris County; these are my best numbers. What are your thoughts?

Purchase Price: $215,000
ARV: $275,000

Tax Assessed: $300,000

Rehab: $8,000

Rental Rate: $2,300

Landlord Insurance: $2,500

Home Owners Insurance: $5,000

Property Taxes: $8,000

Year Built: 2018

Has anyone aside from two post Wendy used Beyondbnb?

I attended a Hostaway demo last week and their demo was crap which leads me to believe their support will be even worse. 

Which platform did you go with?

Definitely assume the worse case and add a clause to the offer that no new leases are to be started after you're under contract and try to get a copy of any existing leases. Assume the current tenants aren't paying and they haven't paid security deposits. If the numbers worked you don't want to find out someone just started a five year lease at $100/mth.

I considered the 2/1 buydown for a purchase I made in November. The seller had to contribute the amount to escrow for future use and if I were to refinance before exhausting all funds in escrow then the unused funds would be refunded to me. I end up not using the product as I couldn't get the seller to offer the buydown amount and cover closing costs, points, etc. I chose to apply to the sellers concession to closing costs and points and only came out of pocket for the appraisal fee and initial HOA setup fees.

TenantCloud announced they will begin charging $1.50 or $1.25, depending on plan, per ACH payment beginning January 2023. Time to compare PM solutions!