All Forum Posts by: Gabe G.

@Lucas Hall

Why does it take so long to get payments.

I know 5-6 business days is the norm with your company.

IPN which I am transitioning from, it was there 2 days max.

I thought cozy was free?

Nancy,

Yes I never use for rent signs anymore unless absolutely needed.

Agreed. I have suspicions it was the next door neighbor. But how could I prove anything?

Have you had a break in, did you file a police report?

It's amazing people will break in and commit a felony, for maybe 100 bucks, they will get for the garage door operator. I would rather them put a sign on the door and say im a pathetic loser, and need money, can you give me 100 dollars, instead of me breaking into and creating more damage than that 100 dollars.

I have a home in c to c- neighborhood in indy. Due to the tenant moving out early, and the new one, not moving in until june 1st. There was about a 2 month gap. So i turned off the water and locked the doors.  Unfortunately, About a month into this(this past week) I found a window broken out, and the garage door operator stolen(nothing else as far as I can tell).

Questions:

What practices do you guys use to make this less likely from happening?

and

Do you file a police report, if you have no intention of turning it into insurance and value is not that much? Obviously, I am sure there is fingerprints/dna from whoever did it. But my guess is the police aren't going to go that far on this type of investigation. 

Any advice?

Thank you

Lowest investment property 4.35 2013 through today. Highest? 5.625 2014, when the ten year was shooting towards 3 percent.

Pretty low by historical standards. But im only 34

I've looked at old posts and before the crash 7-8 percent was considered a good interest rate on investment property, now people are upset if it's over 5. ha

50 percent of whatever amount, is a great match in the day of no pensions.

I would milk it as long as I could.

Agree, you can't use "cash flow" to directly fund IRA's.

It needs to be "earned income" from w2's.

If you have w2 income, and cash flow, then yes, by all means fund your ira. But from the irs prospective that money will be coming from your w2 job, not cash flow.

Either way sounds like you got a good deal.

You can't really go wrong with those numbers.

However, based on the difference between what you have in it, and ARV. This sounds like a flip to me.

@Thea Linkfield

A few things to consider. 1. a very bad market could put a hurting on any appreciation or equity pay down, that's why most want cash flow from day one. 2 For that expensive of a house, 200 dollars is not going to be enough to take care of capex and repairs. General estimates are 8 percent for maintenance, 8 percent for capex, that would be $320 dollars, so you really aren't break even, you are negative cash flow. Add in some tenant damages, or lengthy evictions and you are  farther in the red. Sometimes rent's go down, what if rents go from 2000 to 1700 in that area?, now you are farther in the bed. While you can buy in places where you think appreciation might happen. Buying where the house stands on it's own two legs and cash flows from day one, gives you some wiggle room, when things don't go as expected.

But in general, yes appreciation(hopefully) and equity pay down are part of a buy/hold strategy.

No. Homeowners insurance does not cover capex. I wish it did.ha

You may get lucky and have a roof or two paid for by the insurance due to hail or something. But in general, you have to pay for it.

If you get a roof or two, out of the insurance over the years, that helps your overall capex budget, but don't count on it:)