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2 November 2021 | 33 replies
Been looking to get in the game for a little while now and ran across a potential investment by pure luck.Was originally looking at single family residential to start out with rentals.Commercial deal came in to our laps:$310,000 purchase price4 retail store fronts(3 rented to a cafe, 1 to a boutique)2 apartments rented out upstairs1 vacant apartment upstairs(biggest of the 3 residentials).
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30 October 2021 | 0 replies
Hoping to have this project done by Dec 2021 for guests to enjoy some Cowboy games!
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30 October 2021 | 3 replies
You are asking people to give you money and let you do everything without having any skin in the game.
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31 October 2021 | 1 reply
hi BP fam - recently starting taking the steps to really get in the game of re investing i.e., creating a criteria, studying a market, making connections in market (realtors, lenders, etc) and I've determined I still need about six months of saving/paying off debt before we are really to purchasein the meantime I do not want to just sit on my hands. is there anything i can do to provide value to any experienced investors (bird dog, etc)?
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31 October 2021 | 11 replies
Of course, at the end of the lease, it's fair game and I often find it best to change out the tenant as we might be in a value add, raising rent and just wanting to start over.
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31 October 2021 | 4 replies
I told her I did not but I had rental agreements for all of them which had the current owners number and maybe it would be best if she contacted her directly instead of playing the telephone game.
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31 March 2022 | 9 replies
I am new to the game, but hoping I can be a great connection for many people just looking for the right partner/match.
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5 November 2021 | 15 replies
I did not mention that I have been studying RE for the last year + (the properties we analyzed are in our neighborhood, we know what's coming, no rehab needed and I did say that it was the FIRST step).I know that real estate investing is a long game deal.
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1 November 2021 | 7 replies
Seems like I came too late in the game?
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8 November 2021 | 11 replies
@Eric Lee Nation I did ins claims in another life for 14 years - I do not recommend that EVER as someone's employment but I did learn a few things.Here's 2 things agents or no one will tell you -- your Replacement value (RV) on the house is JUICED up way higher than what's realistic -- however you have a relatively inexpensive house so it's not much of an issue - but typically the reason they juice the RV is to get your wind/hail deductible higher -- typically 1%, 2%, 3%, 5% of RV is what your wind/hail deductible will be even if you had a $1k or whatever other deductible they offer for any other peril -- so follow me for a minute - you bought a rental for $150k -- they've juiced the replacement cost to $250k the most likely loss in KS or the midwest in general is going to be wind/hail --- the math actuarial nerds do this so the casino or the ins company in this case has the upper hand -- do the math what a 2% or 3% deductible on a $250k house will be -- I have a commercial building insd for over a million -- the lowest wind/hail ded they will give me is 5% -- the only reason I have ins at this point is I'm required to -- the wind hail coverage is worthless to me with as high as the deductible is.Anyways with that out of the way - ask your agent if you have a 3% option - at that RCV cost they figured of $99k that wouldnt be much different than the $2500 all perils coverage you have now -- Also I'd wager as someone mentioned dropping the med payments to others coverage -- it probably wont make a bit of difference in your policy cost -- I could be wrong - but I'd guess $25-50 dollars a year -- your coverage is the price it is due to the perceived wind/hail risk the company is putting on KS.I'm with Big Red and have been for a # of years -- your price to insure that house is on par with what I get from them for that replacement cost -- though i think State Farms game is a bit different they really jack up the Replacement cost so I have higher wind/hail deductibles -- I'd make out good if the house burnt down or a tornado destroyed it - but for a hail claim there wouldnt be much there.