All Forum Posts by: Nick M.

Just because you're renting to students, doesn't necessarily make it student housing in the eyes of an insurance company.  The insurance company will have a very specific definition of what "Student Housing" means to them. Such as extended periods of vacancy between semesters...

I have a MTR that is close to a university campus and my current tenants are students, but they also passed all the usual tenant screening in the same way that I've rented to other mid-term tenants in the past.

Hey Bo, that sucks. Best best is to call a broker and they should be able to tell you what to do. Which city are you in?  With insurance best not to get too tricky as it can bite you in the ***.

If the investor has agreed to put you in first position (lien) on the property, then that should also be visible on the insurance policy declarations page - under "Mortgagee" you should be listed as the 1st Mortgagee.

Hi everyone

~ 4 months ago the neighborhood my apartment building is in got hit by a tornado. 

My building came through with only light damage that has been repaired, however there are many surrounding buildings that were hit much harder and still look a mess with construction ongoing. 

Prior to the disaster my building was fully occupied and the neighborhood was in demand. Now my building is 3/4 vacant as tenants leases have not renewed. 

Other than offering move in incentives (such as 1 months rent for free) does anyone have any suggestions for leasing up in such as situation. My property management team is basically saying I’ll just have to be patient. 

Also, has anyone had success re-negotiating mortgage payments in the wake of a disaster?

Erwin Sigua 

Hi everyone

Just listened to podcast 479 and during the intro @David Greene said his best day was refinancing into 15 yr mortgages.

I don't understand why he would do this? 15 yr = bigger payments, less cash flow.  I understand you'll build equity in the properties more quickly but if the goal is to accumulate properties, wouldn't it be better to save the cash in order to fund more acquisitions?

There's something here I'm missing.  Would love some help.

Thanks, Nick

Here is the full quote: 

Hi @Justin Otero and @Alberto Gonzalez. I'm happy to meet up or do a call if you want. 

There is a meetup that I keep wanting to get to but haven't yet had the chance: https://www.meetup.com/en-AU/m...

Hi Jennifer

I closed my last deal in Cabot with Sherrie and Tracy at WACO title. They were excellent. 

However, mine was not a wholesale deal. 

@Damon Cluck thanks for the reply - I will reach out to both

Hi @Rachel Fazio thanks for the reply. Congrats on the deal!

I've heard that the market has really heated up. How competitive was it and what kind of margin between costs and ARV were you able to achieve?