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20 December 2024 | 1 reply
Here are the details of the property:Property Overview:Location: Texas2 lots, 2 warehouse buildingsFinancials:Mortgage: $4,897/month (balance: $530,000)Insurance: $830/monthProperty Tax: $1,800/monthBuilding 1:1 tenantRent: $7,570/month12,000 square feetBuilding 2:3 tenantsTenant 1: $2,850/month (5,000 square feet)Tenant 2: $1,793/month (2,500 square feet)Tenant 3: $895/month (1,250 square feet)The property was appraised for $2,200,000 three years ago.Given the current rental income and expenses, the cash flow is decent, but my family friend is looking to explore options that could potentially yield better returns.Would it make sense to:Sell the property outright and invest in higher cash-flow opportunities?
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20 December 2024 | 3 replies
He adjusted his listings to highlight those features and got a contract within a week.Expand Your Reach: If ALE is slow, it might be worth simultaneously listing on Furnished Finder or working with insurance brokers.
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18 December 2024 | 26 replies
I also review the insurance costs and try to get a solid estimate of coverage expenses to fine-tune my calculations.
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14 December 2024 | 11 replies
Quote from @Christine Gordon: Quote from @Roi Azoulay: This firm is known to advertise fake distressed properties all over NY and reach out the the actual owner w/attempt to get listing agreement, Unfortunately they are still active and keep doing this for many years and no other website/mls does anything about it.
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6 January 2025 | 77 replies
That has been a big thing.The easy way I think to say it is if you are a lender, agent, insurance person, you shouldn't be starting forum posts to elicit feedback in your industry or genre.
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22 December 2024 | 23 replies
Despite the fact that my decks were up to code when I bought them I have had my insurance company do inspections and make me install lag bolts on many things that are in my opinion fine.
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19 December 2024 | 15 replies
Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).
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18 December 2024 | 9 replies
Be professional, kind and firm.
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20 December 2024 | 9 replies
and what about flood insurance.
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11 December 2024 | 12 replies
Quote from @Angie Dickson: @James French I have been following Chris for a while and I am a firm believer in infinite banking.