All Forum Posts by: Nina V.

This year all the 1% rule Single family homes that I bought were because of something the seller did not want to do. One was a hoarder house they did not want to clean up and sell for ARV, one was a tenant eviction the investor did not want to deal with. These are some examples of properties you can find that will give you the 1% rule because someone does not want to deal with a problem. One thing I will say if you find the right people to bring you these deals that are off market, you can find 1% in any location if you are willing to put in the work and find good real estate agents/brokers and take on any problems other people do not want to deal with.

Hi James, I was in your boat just earlier this year when in June I decided to invest out of state and now I have 3 properties in 2 different states (wow has it really only been 5 months! It feels like years have passed). It was scary for sure but I have some tips of things I learned from this experience. DM if you would like to chat. 

Who will give me this report? I am buying a property that is owner occupied.

Hi folks,

I was wondering if there is a way to see if there were any past insurance claims for a property I am concerning purchasing. For example I am looking for flood/hail insurance claims? 

Thank you!

Hi folks, 

I am closing on a property with my cousin and both of our spouses. Each family will own the property 50/50. In the process of coming up with a legal agreement between us, we cannot figure out how to address when we have differences on how to solve disagreements on repairs. For example one family wants to repair the roof and the other wants to replace it. Any suggestions appreciated.

Thank you!

One piece of advice I want to share is get a copy of the tenant lease! I was vetting PM the in a new area and one thing I noticed was the one company did not want to readily share their tenant lease. I kept at it and finally got a copy. OMG I saw why. In this area it's common to pay a lease renewal fee. But this company was also charging the tenant a lease renewal fee. Between the owner and the tenant it was a total of $500 for a lease renewal! It's like they want tenant turnover. Plus they had a bogus $40 a month tenant fee to use the portal to pay rent, request maintenance. When I asked they said its for the renters insurance (um no it says portal fee on the lease agreement). 

I was looking for recommendations outside of Everest as their policies did not work for me. For personal reasons I cannot manage my own properties and I don’t have enough doors to employ a person and provide a salary and benefits they deserve.  

I used the calculator today and it was adding cashflow during rehab months 🤦🏻‍♀️

I also noticed that rent did not increase for years 2-30. 

I start here

https://www.huduser.gov/portal/ushmc/chma_archive.html

Find your city and state and get a quick picture of how the city/metro is doing (population, demand and current approved permits for new construction. Rental facts.) One down side is that these reports are not available for each city or released annually. But it does give you a quick reference before you start an in dept analysis.

Hi everyone,

I recently decided to start out of state investing. I found my city, found what I thought was a good deal only to find out insurance rates were 2X more than in my current hometown for a long term rental. Now my deal is no longer good. I am specifically looking for rates for SFH or residential multi family (2-4 units). I am asking if you could kindly share what your insurance rates are for long term rental and what state your property is in. I tried to use nerd wallet but their estimate is vague and you cannot put in purchase price/bed/bath information. If you have a resource that you can quickly check approximate rate without filling out pages of information, I would appreciate this!

Thank you kindly!