All Forum Posts by: Kristel Lim

Hey investor friends! I haven't done any reroof on houses before and I am about to get my roof completely tear off and replaced. It is a big purchase and was wondering if anyone could give me advice on what to ask the roofer before moving forward with the project, how to negotiate the price, and what other things should I be aware of? Thank you in advance! 

Hi all! The roof on my rental property has caused water damage inside. I've already filed a claim on my other rental property because the filter has leaked 2 years ago. Should I file another claim for a reroof or pay out of pocket? I understand that the insurance policy premium goes up if you've filed 2 claims in the last 5 years. I wonder if in the long run it would save me money to just pay out of pocket rather than filing a claim? 

I'd appreciate your input! Thank you!! 

@Wade Woo Hi Wade. I bought it for $475k as is. There's another mistake I made when I didn't ask for any discount as the realtor said the seller would only sell it as is. 

Hi all! I bought an as is property on September 2021 in Utah. I’m thinking of selling it because it needs some work and I realized I wanted turnkey property for future investments. Right now, it needs a new roof. Should I wait 2 years to sell it? Or just 1 year? I’m afraid if I wait 2 years the housing prices will decline and I’m left with negative equity and would not be able to get any of my investments back. I would appreciate some advice or insight on this 🙏

1. Hi guys! I have a property that I bought Sept of 2021 and it built in 1977 and needs a new roof. There’s tenants living in it already and I am looking to sell it next year! Should I replace the roof prior to selling? The house needs some updates inside. I thought I could fix it and rent but realized it isn’t for me! :( lesson learned.

1. Hi guys! I have a property that I bought Sept of 2021 and it built in 1977 and needs a new roof. There’s tenants living in it already and I am looking to sell it next year! Should I replace the roof prior to selling? The house needs some updates inside. I thought I could fix it and rent but realized it isn’t for me! :( lesson learned.

Hey investors! A beginners question here: how do I get pre approved for a higher loan from the bank? My debt to income was too high for me to get a heloc from my primary home. I got pre approved for 400-500k from my w2 job. My primary home has a basement apartment that I rent out and I have a 2nd property that I rent out and I think that adds to my income. I was hoping to get pre approved for 700k or higher because of the market nowadays I couldn't get anything lower than 700k that is turnkey but how do I do that with 1 w2 job and 2 mortgages? As some of you can tell, I’m just starting out on my journey and would appreciate any insights! :)

Yes the property has an old roof which I’ve disclosed with the insurance company. The foundation on the driveway needs to be lifted and the fence is leaning. If this current insurance company will cancel on me, I may need to get those replaced. Thank you for your reference! 

Hello everyone! Has any one of you experienced getting your homeowners insurance cancelled cause the insurance company thinks its too much risk for them to insure your property? I need help on this as it may potentially increase my monthly mortgage. I have done some research and I could switch to high risk insurance but it would be expensive and diminish my cash flow. What should I do?