I keep hearing this is predicted to be the most active hurricane season of all time.As if insurance rates weren't already bad enough in Florida and coastal areas.

We secured a comprehensive plan for renovations, including a quote for necessary foundation repairs.

Hi Sonia,Where in the states do you plan on buying?

We learned early on that:-3 of the 6 buildings are in a flood zone-the current owner has a loan, this lender doesn't require flood insurance-1 building took on a little water at one point during the 12 years the seller has owned the complex. 

A few helpful clarifying questions, hopefully help get your wheels turning as well, would be:What are you planning on doing with the property and what is your exit plan?

Hi, I would definitely plan a trip to come to Ohio for a real estate investment.

Do you plan on self-managing (you should)?

In any event some lenders will count up to 75% of gross rents as income while recording mortgage, taxes, insurance, HOA fees as "front-end" debt payments.

The HVAC system failed unexpectedly, adding unforeseen costs.Lessons Learned:Thorough Inspections: Always include major systems in the initial scope.Contingency Budget: Set aside funds for unexpected repairs.Flexibility: Be ready to adapt plans quickly.These lessons highlighted the importance of thorough planning and flexibility in Partner Driven's real estate investments.

A big variable here is insurance.