All Forum Posts by: Katie Lyon

 RE investing is for me but I’m in it to make a profit. I have barely broken even after a year with the high maintenance of properties by the ocean - rust and salt water do a number plus the storm. I have 100k in the property of equity and make, after saving for vacancy, repairs,  and cap ex ~$200 per month. My debate is if it is better to pull out the equity via a sale even if I lose money in the transaction so I can put it in higher profit properties. 

More numbers. Paid $536. Worth 550-560 now. After fees, commissions, etc would end up about -25k. Rents long term for 5k. Mortgage is 3300. I pay for lawn and pool which is about 150/month. Ian cost me about 9k.  

The backstory - we have an investment property in Cape Coral Florida. Right outside of ft Meyers. We have had it for one year and it renting right at about 1%. Hurricane Ian was not good to us and cost us about $10k out of pocket. 

Renter demand is lower down there right now. We can sell, and have it cost us about $30k total (value went up but fees, insurance, commissions, etc kill me). They are predicting more large storms this summer. My gut says swallow the loss and sell. The Florida market is wild particularly with politics right now. I could furnish it and STR but insurance is wild for that and we have no other properties close so if it doesn't work out we have all the furniture and nothing nearby.

Hey everyone! I'm looking for the best smart lock for a mid-term rental I have. I'd like to assign codes remotely with as easy of an interface and setup as possible! Who knows a good one?

I have a property in Cape Coral!

We have 2 tenants that would like to stay at our MTR. Both workers on the pipeline. Nice, older gentlemen. Blue-collar workers. They are in an extended stay now, and looking to be roommates so they can not spend months in the extended stay. Tenant screening came back with fairly low credit scores for both, and one is on the national sex offenders registry. 

Would you deny them? If so, how do you deliver that news to them? 

Just another branch of their biz or they outsource.

Thanks for clarifying!

Love that RentRedi is now a part of BP Pro...but when I try to use the accounting part it acts as if I need to subscribe. Is it extra beyond the BP benefit?

Thanks all!