All Forum Posts by: Jason Medina

Over the year, as leases expire, I am renovating and then putting each property on the market to 1031 into Arizona.  No hurricanes there and my roof actually lasts longer than 15 years!

Just received a call from my insurance broker that my current insurance company is no longer covering hurricane insurance.  They recommended another insurance company who is charging 3x my current rate... you know it's bad when your broker yells out JC's name in the middle of a comparison.  

If go the recommended route of @Andrew Postell then cashflow "should" be near identical. I'm getting an avg of about $250 per unit.  

Super helpful.  Thank you.  I'll just look for more value.  I hate the idea of slowing down or stopping due some hurdle but love the idea of finding a way to overcome it.  This is why I'm asking the experts at BP! :)

Hi Everyone,  

It's been a bit since I posted. I have been doing the BRRR method for the last few years and so far have been successful. I'm up to 5 SFR each with at least 100K equity but with rates at today's highs I need some advice on what to do. I'm holding enough for emergencies but doing so leaves me little to do another BRRRR. I was thinking of refinancing and just absorb today's rates until they go back down just to get some capital to do another BRRRR or should I sell a few and do a 1031 into a larger commercial? Need some guidance please.

Thank, 

Jason

Will do thx Cameron!

Thanks for the words of wisdom.  I guess I shouldn't sweat the small stuff as I've been really lucky to just have minor issues.  I'm pretty thorough with my punch lists.  It's always those little things that you can't see if you're not physically there that "should" be taken care of otherwise it doesn't look right or make sense, but they're just doing it because they were told to do something without enough direction.  My nature is being really process oriented and when things fall behind because of little details that could have been easily addressed it drives me up the wall. :) 

Hi Everyone, 

I live out in Los Angeles and working on my 5th property out of the Orlando area and one thing I'm always challenged with are remote rehabs.  The rehabs I've done locally are a lot easier as I can walk the property and apply painter's tape to areas I want addressed during the rehab, or resolve any communication issues real time.  I don't have such a luxury being a remote rehabber.  So I'm always nickel and dimed at the end for little items that should have been taken care of during the rehab which is sometimes understandable but the most precious thing I'm losing is time as the contractors have to be scheduled again to come out and then another inspection has to happen.  What is typically a 30 day rehab runs to 60+ days.  I have a property manager that overseas it but I feel like no one loves my property like me to give it the attention it needs.

My question for you all in similar situations.  How do you guys handle this?

Thanks, 

Jason

Thank you @Alice Horn, I've been thinking about that.  I've been looking at some beach properties that I thought would be great for that but I'd love to chat and see what experience one would expect to have with vacation properties.

@Remington Lyman I think the same challenge everyone else has at some point in their investment career.  Too many deals not enough funds.  Have great leads, contractors & property manager and still have to pass on opportunities because I'm scared I wont be able to fulfill a promise if I say yes to another property.  As you know your reputation is everything in this business.