All Forum Posts by: Elise Hazzard

hi Mark

We only have 10 properties, all SFH.

Our insurance agency has been around the block with us on the topic of reduced rate policies for the number of policies we keep consistently. Basically, they have the position that there is not such thing.

Ouch.  

A guy in my REIA buys his insurance outside the US (?!)

Wish I knew how to crack that nut.

When I was a PRO member (ended last month) I did enjoy the access to state specific lease documents.

In light of the current CDC related rent moratorium, it would be VERY handy to have an attorney reviewed cash for keys agreement included in those documents - if not there already. Likely handy to have that type of template regardless of current situation.

Include me in to the group who are hoping for more streamlined, user friendly, calculator connected app.

Lastly, Could the notification bell have a different color or something to signify mail in the inbox... might keep communication flowing a little better.

thanks for the opportunity to 'share' my  3 wishes if the genie is listening :)

Hi Noam,

To my understanding, your investment property should be in the same state as your LLC is registered. Check with your accountant for the final word on that, but I believe I have heard from several CPA's who consult with real estate investors.

If you haven't heard of it, a several time guest on BP Amanda Hahn has published a book with some mandatory accounting information for investors in a well organized fashion.  It would be a great investment for now and future. ? tax deductible?

@Patricia Steiner, that's sound advice for @Ryan Tall, or any investor... if you invest out of town, you should really enjoy/need to be there. Regardless of who's managing, an investor should "be connected" to their properties.

We just 1031'd out of a multifamily many states away.  The property manager failed to report on the declining micro-market changes where the property was located and so the sales price reflected that reality.  We now are reinvested in an appreciating market much closer to home where we have a trusted friend and handyman, and can visit more often.

Diligence and patience are needed when there are thousands of eyes on the property you too are looking for, which is why you must be VERY confident to pull the trigger immediately when you see something that fits your criteria in the area you know best.

Enjoy your every win... you're in much better shape than many !

Cheers !!

@ Gerry Rien, do you recall the thickness and manufacturer of the LVP with adhesive seam?  I'm about to do an entire house and don't want to regret a poor selection.

Also would you recall if any underlayment was used?

Thanks 

Hi Connie... sounds like all turned out for the best even withstanding the contractor headaches. 

Would you mind giving timeline: close to close?

I'm envious of your financial advantage as an Realtor.  Do you have an accountant that specializes in clients with real estate?

Will stay tuned for your next project!

@Brent Boriolo, you are a warrior indeed!

you set you goal and now making it happen. Nice work on the rehab so far; I hope your 'little' construction background includes some talented help if you feel the need.  That's not a small project but doable.  In your market, it is about the only way to go.  

Have your listened to the BP rookie podcast with other WA investors and their purchase/rehab?  A few insights there that might be help you on purchase #2.  And we know you will have another purchase.  

Keep up the momentum!

Hi @Bryce Kennebeck, 

I am not the authority, and you have been give good advice here.

One suggestion though, follow the market. If you have good local knowledge, you will know a good deal when you see one and there is plenty being listed, going under contract, and closing. Fortunately many of the county property appraiser officers are very transparent and full of good date (pinellas/hillsborough).  The only charge for self education is motivation. With an internet connection you should be on your way soon.

Truthfully, I have lived and invested in the TampaBay area for 2 decades and find it difficult to get a 'good deal.'

Send a spark anytime if you have a question; happy to help.

Hi Christian,

Many people are very self aware and know from an early age what career is a good fit for their interest and personality type.

Fortunately this arena is open to any/all parties ..everyone has unlimited potential.

Never hesitiate to send a question ...happy to reply!!

Hi Douglas Stewart, 

This may sound like an over simplified answer, but I always clarify this issue as part of the lease (all utilities in tenants name) and generally, I do not accept funds for first/last or damage deposit-until a tenant provides a receipts for their deposit/initiation of utilities.  

My partner accepted new tenant 2 weeks ago and the tenant agreed; then called the utility to change to their name but did not pay the deposit yet. Now they are all moved in and we just received a notice from the water company that this new tenant did not pay for utility deposit and the water serice is threatening to remove the meter on Tuesday.  This couple has a  2d old infant and we will probably ending up "loaning" the fees until they can repay us. Doubt we'll see those funds again, but at least the service will be in their name. Exactly why you don't break your own rules. Wish us luck!