All Forum Posts by: Paul Pratt

Agree with Scott. In my area mortgage delinquencies are low, people have equity in their homes and most people know what they have in terms of value.

@Lucas Ferrado Quílez Hey Lucas, feel free to shoot me a message I've got a few recommendations for you.

 The growth of Florida isn't due to business. Very simple, It is due to retired people moving here. 75 million baby boomers are going to be retired in the next 7 years. What do they want? To be warm, play golf and not be taxed heavily. Florida is the place for them. That is the bulk of our influx.

I do, shoot me a message and I'll send his info!

Always good to keep tabs on the property, and to prevent issues from arising for example, wood rot, ac drain line/filer cleaning etc. 

At the end of the day they are expenses, but keeping them in good shape will greatly extend their life. Also, when you do update them, make sure to have a 4 pt inspection sent to your insurance agent. This will lower your premium sometimes enough to mitigate the upfront costs over the next few years.

 Yeah, like I said. Depends on property/condition and how up to date you are. It's easy to see insurance as a losing battle instead of getting creative!

 Absolutely shoot me a message or email!

I've been seeing tons of forums about rising insurance costs. However, this should help you out if you are not already doing this. Find an agent (not all will do this) that can give you a quote based on a solid 4pt inspection (Roof, Electrical, Plumbing, HVAC). And if you already own, and have updated any of these, make sure to get and forward a new 4 pt report to your agent. I see tons of investors/residents who replace a roof, ac, etc and don't bother to update their insurer. For all you number crunchers this will save you thousands over the years. At least in my market we are seeing major savings, and if the property is older see if the projected rate is worth the fix.

Like I mentioned earlier I'm sure most of you are doing this, but you'd be surprised how many people let property updates go non accounted for by their insurers. Hope this helps!!

STR in my area (Daytona beach) remains strong. Again it depends on the property, have a few clients pulling in great numbers currently and are acquiring more properties. Can't speak for other parts of Florida.

Depends on the area. Most of the people I know are paying 1500 ish a year (residential) and around 3000 (STR) I would not consider that a factor based on the returns they are getting.