All Forum Posts by: John Lee

Notice the language in the first capex  that the property is being repair. 

Second, my initial contact with roofstock account executive lead me to believe I'm only responsible for the @ turn capex

So far, I'm a little bit less impress. I'm in contract for a property with the understanding that immediate repair is being addressed. However, that is not the case. The properties on roofstock in sold as-is. You are responsible for the entire capex. And if the property happen to be close to where you live, seller do not like to disturb tenant and would not let you see the property. 

It was my first deal. This is the first time I hear of vacant insurance policy or builder insurance. Most insurance mention on bp is umbrella insurance. Should I drive up or fly in after hurricane to assess the damage and do some immediate repair, while wait for contractor available?

I have a property in Jacksonville, NC that suppose to close this week. The county is evacuated and the closing day is delayed. The house is a flip, so I'm not sure if I had any kind of insurance policy on it. Can I scramble a quick investor insurance that can cover the house in case anything happen? The house is relatively new, build in 2006. I'm out of state, and the agent manage my property is evacuated. So no boarding up the window or turn off the electric.  I'm not sure the building code for NC is as strong as FL. 

What value does screened in porch add to rental property in term of rental income? 

I'm only making $5000 on this flip ( less than the realtor and worse than just keep my money in the stock market)

carrying cost about $200/month

I'm in a buyer market. Buyer is using VA loan. The appraisal come back $400 short. My agent said it's obligated to lower price in that market and buyer wont ask but they expected me to lower price. I'm already agree to $700 credit on repair plus other repair requested. What is my option other than to lower price?