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All Forum Posts by: Nicole Rutherford

Nicole Rutherford has started 3 posts and replied 8 times.

Post: Insurance for an owner occupied Duplex

Nicole Rutherford
Pro Member
Posted
  • Real Estate Agent
  • Posts 9
  • Votes 2
Quote from @Lindsey Mannix:

Hi Nicole,

I have had insurance through both State Farm and Allstate for my STR properties and those could be worth a call. Your price quotes don't sound bad though!

~ Lindsey

Thanks Lindsey! I will give them a call as well. I was pretty happy with what proper provided and have had good experiences with them for other properties. 

Post: Insurance for an owner occupied Duplex

Nicole Rutherford
Pro Member
Posted
  • Real Estate Agent
  • Posts 9
  • Votes 2

Hi all! I am new to South Carolina and am purchasing a property down in Aiken. It is a 2/1 Duplex where I will live in one side and rent out the other. It currently is tenant occupied until October 2024 and after they move out I plan to use as a short term rental. I reached out to proper insurance and was quoted $2307.62 for the year which coming from Florida, was cheaper than I anticipated. I also received a quote from Steadily for $1,875 but read through some other posts here and am now nervous to use them. Does anyone else have a provider they recommend? Or best advised to stay with Proper? 

Thanks all! :) 

Post: Purchasing a South Florida Property

Nicole Rutherford
Pro Member
Posted
  • Real Estate Agent
  • Posts 9
  • Votes 2
Quote from @Kyle Fairbanks:

Hi all,
Looking at some areas in South Florida for a SFH. Wanted to know your thoughts on the area and then also any connections to certified Real Estate agents in the area as it will most likely be a STR after a year of living in it. Feel free to give any feedback as I am super open. Have a STR in Plano Texas and it is doing good. Please share some insight my Florida brothers and sisters!

Hey Kyle! I am a real estate agent in South Florida that specializes in short term rentals 😊 would be happy to set up a call with you and chat!

Post: Looking for a real estate investors

Nicole Rutherford
Pro Member
Posted
  • Real Estate Agent
  • Posts 9
  • Votes 2
Quote from @Andrew Great:

I am looking for real estate investors to sell my property in Pembroke pines as it is.

Hey Andrew! My team and I would be happy to help 😊

Post: Searching for my buyers in South Florida

Nicole Rutherford
Pro Member
Posted
  • Real Estate Agent
  • Posts 9
  • Votes 2

Hi all! I am a real estate agent based in West Palm Beach. I work mostly with investors looking to purchase short term rental properties. I currently have a client looking to buy anywhere from North Palm Beach to Fort Lauderdale around $600k and another client looking to dip his toes into the short term rental market starting off by rental arbitrage. He is looking for a unit to arbitrage in Hollywood. If you, or someone you know has something, please reach out! 

Post: Introduction - sales associate / investing

Nicole Rutherford
Pro Member
Posted
  • Real Estate Agent
  • Posts 9
  • Votes 2

Hi Kamyshia! Welcome πŸ€— 

What part of town are you in? I’m in West Palm Beach area and love meeting others in the area. 

I was just in Montana this summer. It’s so beautiful there!

Post: What to do when your value is building the home but no cash

Nicole Rutherford
Pro Member
Posted
  • Real Estate Agent
  • Posts 9
  • Votes 2
Quote from @Mike Schofield:

Nicole,

You can start with the money you have ($30K). You will have to buy intelligently though for sure. I have a 100% fix-n-flip loan where you would need to cover closing costs and maintain 6 months reserves (mortgage payments for 6 mos). You are going to need to be all in (purchase + rehab) at < 70% After Repair Value (ARV). The construction experience will need to be approved by the lender, so you may end up needing a general contractor too. Minimum loan amount is $100K, and construction terms can be 6 months or 12months, and you should plan for 4% to 6% on closing costs just in case. You are going to be paying interest only payments on the cash you have borrowed until you sell. As you gain experience, it will be much easier to qualify you, and get you better rates. Let me know if you want to have a phone call about it.

I greatly appreciate your response! Thank you so much for the thorough explanation. We can wait a little longer and keep saving but am very anxious to get started 😊

Post: What to do when your value is building the home but no cash

Nicole Rutherford
Pro Member
Posted
  • Real Estate Agent
  • Posts 9
  • Votes 2

Hi there! My partners and I are forming our LLC and wanting to start flipping houses in the next 3 months. At this moment, we don't have cash to put into properties and folks we know who have money, can't invest at this time. By January, we will have ~$30k to invest which still isn't what we need for most homes we are looking at. Question is, do we just wait and keep saving or find someone past our network of people we know who wants to invest-and if so, how to find them?

Our backgrounds are finance, business administration, electrical and construction (being able to mostly build a house from the ground up). For most flips, we will be able to do all renovations ourselves. Plumbing is the only thing we would need to outsource.