It was gutted and re-roofed and they are now putting in sheet rock.

This community rocks!

In the city it is a bit murkier.... but if you have a rock star agent and RE attorney on your team you will be fine. 

This example is from the north Round Rock area.

I live in Argyle, TX, which is an exurb on the NW side of the DFW area.I am currently listening to BP podcasts, reading David Greene's BRRRR book, and looking at markets where I have existing connections (Little Rock, AR, Ada, OK, and Natchitoches, LA).

Interest might be 6%, but there are a lot of deals that still rock at 6%...think about it...if you have a property earning 15% ROI, that 6% isn't a big deal... then you refinance out of these deals into lower interest rate mortgages when you get in a better position.

After the repairs or rebuild is done you will receive the remaining balance.If you have not had a Fire & Water Damage Mitigation contractor (I recommend Belfor based on the work they have done for my clients) I would have one look at the property to see if there are any immediate needs (remove water damaged sheet rock, remove smoke damaged items, etc.) and communicate it with the Insurance Company. 

Nothing fancy i’m using this unfortunate event that happened to me I making a positive video Vlogging the and documenting the whole come up from ground zero to success and on-all social media platform and posting everything online working with YouTube and showing people that when you hit rock bottom You can’t give up And show them how I fight and get back on top but sometimes you have to swallow your pride and ask for help ...my backs is against the wall I’m about to lose it all so I’m reaching out to you and  with a blessing of bigger pockets And you investors can you guys help me thank you God bless

Or have we hit rock bottom on interest rates and heading into inflationary times (already there??).

@Patrick M.Sounds like you have made a good start on your real estate investing career and are ready to rock and roll in 2021.Your thought process about financing is generally correct.I might make a distinction between commercial bank loans and agency loans - agency loans are generally $1M or more and may have a more stringent experience requirement than commercial bank loans.In terms of your balance sheet, what you net worth is - is what your net worth is - so there is not much you can do to change it in the short term.