All Forum Posts by: Iggy Marques

They are definitely harder and harder these days... But I will be making an off-market "J E W E L" available soon in the steaming hot Florida/Orlando market. It's a "single family" low tax (with beautiful in-law quarter and a secondary building that could be another separate parcel single/double, so 4 potencial high rentals, specially if it is short term). I'll post in the BP market soon, before it goes to the MLS since there are some cleaning going on at the property.

Hi Jon,

Any input you'd like to share after a year in the program? Thx!

One of my friends own a A.C company and when I purchased my last house I asked him to change my old --but functioning fine-- a.c unit (20+ yrs), he told me to hold my horses because older a.c's were made to last, and when they brake it, it is often times a simple inexpensive fix (unlikely the modern ones that are made to last 5 years and when it brakes it is better to change to a new one than fixing it). The same concept applies to refrigerators, washer/drier, etc. Now, I understand these other appliances have the aesthetic factor to be weighted in but when it comes to old A.C units I'll run them till the last breath from now on... This particular one lasted me another 5 years with just a couple of repairs until it finally died.

The problem isn't going 50/50, many partnerships are that way (even at BiggerPockets I'm sure). The problem is to require all this money upfront with monthly fees, renewals and then some... Also, it sounds fishy when they won't accept check payments as a member noticed above. I have thought about joining them recently but with that kind of BS I won't even get near them. I have the ability to find my own deals, I just wish I had a like minded partner with more experience on multi families and access to hard money for joining me on some of my bigger endeavors. One step at a time though...

John, I'd love to try getting a quote on "Renovation Builders Risk policy", can you recommend someone? I'd highly appreciated it.

Now, would you know if this "risk insurance" is enough to qualify me for a Home Equity loan?

Hi Luis, thanks for the reply but the repairs might be anywhere from 5 to 15k depending on how many issues I tackle it at once and I do not have that kind of limit on any of my cc's. Thanks for replying though. I appreciate it.

Hi everyone, this is my very first post so bear with me if I'm placing it in an inappropriate thread. 

*Feel free to move or remove it if necessary.

I'll present my current scenario and hopefully I can receive some advices on how some of you would try to overcome it...

I have a paid off home that needs some updates (mainly electrical panels and some wiring, plus septic) but I'm tight on cash till the end of this year. I thought about getting a 'Home Equity Loan" but cannot do it without home insurance (which I currently don't have it), but in order to get insurance I'd have to fix those outdated stuff prior; so I'm a dog chasing the tail on this issue.

- What would you guys do;

*Continue $aving and fix them with your own money (probably only by next year) 

*Get a personal loan, fix the issues THEN have some home insurance in order to get the home equity loan and include 'personal loan' in it

*Or any other creative option I haven't thought about.

Last input: I'm living in the house but am considering renting "it" ("them" - I got a 2bd in law out back)

Thank y'all in advance.