All Forum Posts by: Kiran K.

 Adam, can you share which insurance company you went with and how do you like them?

 Main reasons I noticed in the response was, host is not reachable and other is supplies (like toilet paper) was not available. I'm waiting on PM to inquire further and get to bottom of it and resolve it properly.  

Rates for 30 yr mortgage have jumped, especially for refi cash out on investment property.

Seeking advice on what options are available to leverage equity on a rental property. SFH LTR.

I'm given 5.5% for 30 yr fixed.

 Yes, thanks for all replies and information. 

 I hear you, I'll give my PM chance to correct this and get it on track and I'm open to give it some time, but at the same time, I'm preparing myself to take control. 

Thanks @Mark Miles I'll definitely look at the option and thanks for the post link and details.

Thanks @John Underwood @Danielle Jackson. I manage LTRs myself, but they are local, this is remote, but that's not the real reason, I'm busy with few other things in life at present so wanted to delegate this, but never expected this kind of experience. I had dealt with variety of PMs for LTRs but nothing like this.  Thanks for giving me confidence on self managing, which is not new for me (as I already manage LTRs). I'll look into this at some point, right now I want to see how I can get this on track.

@Collin Hays I purchased the STR 4 months ago and signed PM to get it ready and list, i.e. decorate, furnish etc..it took 3 months (reasons - labor shortage, shipping delays etc.). First review on AirBnb is 1 of 5.

Right now what I'm looking for is, what steps I can take to get this under control, i have bookings for next month, i'm worried if they will be cancelled due to this rating. I have already communicated this to PM, waiting to see how they will approach and resolve.  In the meantime I want to research options and what steps I can take now to get this on track.

I have acquired an STR in Orlando, Florida and have a property management company handle the property, listing etc. Spent good amount to make it ready, that too handled by PM company, and after months of waiting to get the property ready and listed. My property got first review with rating 1.

I wasn't expecting this, having PM company is to avoid these, this is my first STR, and due to other obligations I have at present I can't handle the property myself remotely even though I want to manage it myself.

What options I have from here, is there a way out for me, I spent lot of money and still no cash flow yet after 3 months of closing the STR :|, Fellow members please help guide me out of this.
 

Thanks @Joe Fritton

Hi All

I have SFH bought for 165K, 5K closing costs, financed 75% of purchase price at 4.5% 30 yr. Spent 20K for rehab, renting for 1500$/month.

Now property is showing 300K (zillow estimate), I'm considering refi-cash out and invest in another property (haven't decided on SFH or other venues). Rates went up on refi-cash out, looks like around 5%, given i have unpaid principal of about 120K, I have equity of about 105K (300*.75-120).

Any suggestions or ideas on how to leverage the equity in the property, is it good idea to refi cash out and reinvest with above situation? 

PS: Any calculators that can show the numbers (ROE,ROI) with and without cash out?