All Forum Posts by: Geraldo Holter

When you start out and buy that first duplex (or other multi-family property), would you rather A) save enough in your reserves that you're covered for at least 6-months' worth of lost rent? or B) use an insurance company that covers for lost rent and let the tenant pay for it?

I don’t know of such a policy and will wait to hear others input( I’m going to google this too). Afaik insurance covers loss of income of property is uninhabitable for a claim( repairs etc).

If you have a Mortgage on your property it is a good practice to have 3-6 months of the monthly payment saved, just like your regular emergency fund.

0 Votes

Originally posted by @Noah Howells:

Is it feasible to wholesale properties during this pandemic if you haven’t already started the process with a possible seller yet?

I am looking to cold call some people I have skiptraced and was wondering if it would be better to just wait for the pandemic to pass or just try to make it all work some how.

Have people been able to find deals and actually go through the whole process with this covid19 going on? Thank you

Perfect timing, high likelihood of the seller being home/ not busy.
good luck!

0 Votes

Originally posted by @Gary L Wallman:

Originally posted by @Geraldo Holter:

I gave a 50% credit to all my tenants for april( im small at 10 doors currently), this may be needed for May as well we will see how things go.
if you can afford to,consider this.

Geraldo,

Why?

Gary

why not? Most of my tenants are low income and a lot of them are not working.
the impact this covid19 will have in our economy are very uncertain. It’s the least I could do.

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I gave a 50% credit to all my tenants for april( im small at 10 doors currently), this may be needed for May as well we will see how things go.
if you can afford to,consider this.

4 Votes

Most expensive So far happened this week, 9k on a 26k sale price.....

1 Vote

Originally posted by @Paul Honen:

Hey @David McLean. I'm looking for things to BRRRR for the most part, but just looking on the market it seems easier to find rentals that meet the 1% rule in Rossville. I have heard about incurring state tax on those properties, but haven't looked into it too in-depth yet.

Thanks for the info!

I have looked, very good deals to have. Almost jumped on one.
What stopped me was that my pm does not operate in ga( and another better deal popped).

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2500. It was included in the agreed purchase price.

1 Vote

Are you trying to buy the property?
you should be able to inspect it before finalizing purchase, don’t expect any repairs to be made.
once you agree on a price it goes( hopefully) to a closing agency for the transfer of title and then the seller and wholeseller get their money, state taxes are paid and title gets transferred to you.

0 Votes

Kitchen backsplash and tile floors instead of linoleum.
wont break the bank as stone counters.

2 Votes

All Forum Posts by: Geraldo Holter

Geraldo Holter has started 1 posts and replied 19 times.

Post: Flippping Formula Scam

Post: Lost rental income: use reserves or insurance?

Post: Wholesale during covid19?

Post: Coronavirus: email to send to your tenants

Post: Coronavirus: email to send to your tenants

Post: How much did you pay a wholesaler/broker for your last deal?

Post: Chattanooga Investors Investing in Rossville, GA Area

Post: How much did you pay a wholesaler/broker for your last deal?

Post: Wholesaling ins and outs

Post: What's the Cherry on Top?