All Forum Posts by: Megan Arzt

@Scott Jensen unfortunately I learned this year that I can no longer contribute to my ROTH due to the fact that since I quit my teaching job and went full time into real estate, I have no earned income.

A couple years ago a took out a 401k loan. I am considering paying this off now while the market is low (it had been so high I was holding off). I'm hoping that if I pay it off now it will ride the market up when the market eventually goes up.  I'm not sure if we are at the bottom of the market or not.  I also have 16 rentals so perhaps I should hold on to the cash.  I do currently have enough cast to pay my mortgages for almost a year.  The loan is just over $8K.  I'd love other peoples input.  Thanks!

Even camping on private property has been banned unless you are a resident.... In the health department's defense, we have tons of tourists. With kids off school many people took it as a free vacation and came to Moab. Last weekend town was packed. We have a very small hospital with very few beds and something like 6 surgeons total. The next bigger hospital is a 2 hour transport.... With just our normal tourist load getting injured (biking, keeping, climbing) the hospital can barely keep up....add corona, it would be impossible. That said I am truly relieved to have just sold my STR and 1031ed them into long term. The long term tenants are already asking if they have to pay rent though because many are currently jobless. Wild times!

I always run my numbers 2 ways....the actual numbers (always estimate on the conservative side) and then as if the down payment was $0-. If that makes the cash flow negative I don't buy it.... I don't want pay someone else to live there. If it's in the positive it's not necessarily a good deal, but if it's in the negative I consider it a bad deal.

Here! Not an agent, just an investor. Up to 15 units now (8 properties) with another set to close in 2 weeks. It's been a great adventure!

Thanks for the invite. I will not be able to make it this time. Please keep me posted for next time.

Does anyone have a recommendation on who to talk to about insuring an RV Park and campground in UT?  It's such a niche market.  SO far the only underwriter that has covered campgrounds is Philadelphia Insurance, but I'd like to shop around.  Thanks!

Thanks Erika

Thanks for both of your replies!

So I had a fire destroy two of my houses. One 3 bed, 2 bath, and an ADU that is 2 bed, 1 bath. I have insurance and the adjuster just came out today (it took some time for the town to do asbestos testing and allow access). The adjuster said it looked like a total loss, but to wait on his report. He doesn't actually work for my insurance company - he is a separate agent hired because I live "in the middle of nowhere". I've never had to file a claim before. I've browsed through the forums here to help me out, but I'd love any advice from please who have either gone through this before or have worked on the insurance side of things.

I do have loos of rent in my coverage for up to 12 months which is what will save me here. I have replacement cost coverage with additional debris removal of up to an additional $10k. I do live in an expensive market. The code has changed since the buildings were built. The main house is in the flood plain and the ADU is in the floodway. The town will let both be rebuilt because it was a disaster situation (8 homes , plus a bunch of other outbuildings were lost in this fire), but they will both need to be elevated. I believe there is some coverage in my policy for that too.....

Will the insurance company work in my best interest or not?  How do I protect myself?  What do I need to be on the look out for?  Is it possible to change the placement of the buildings on my property (from the insurance standpoint) so that they are both in the flood plain, but not the floodway?

Honestly any advice would be appreciated.  Thanks!

P.S.  Everyone is okay.  Even the dogs....