All Forum Posts by: Megan Elise McIlvaine

A percentage of what? The full house value or cash flow?

So, I just read about this type of insurance for landlords in a BiggerPockets article but haven't heard it mentioned during podcast or from individual property investors. It makes more sense to me then putting aside money every month from your cash flow for vacancy and rather putting it towards insurance? Is there a reason more property investors aren't using this type of insurance? Is it ridiculously expensive? Please let me know your thoughts or experiences. Thank you all! 

So, I watched a Bigger Pockets video with Chris Heeren where he mentioned submitting a 30% below listing price offer with a walk-through contingency in it with the hopes that the seller would then counter offer and give you a two to three day period to check out the house. He also said that he doesn't submit this offer if it doesn't follow the "teen percent role" but it wasn't clear which number that was and also if it is the Cash on Cash ROI then how would he be able to estimate the cost of renovations to find that teen number if he hasn't seen the house? Thank you all again!

Okay, so I am interested in utilizing the B.R.R.R.R strategy while investing but I have a question that I can't seem to find an answer to. If I pay for the property in whole with cash, renovate it and rent it out can I still refinance that property with the bank? Thank you and don't worry about over explaining, I'm relatively new and could use all the information you have to share!