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All Forum Posts by: Daryl Henry

Daryl Henry has started 1 posts and replied 12 times.

Post: Insurance is killing my rentals

Daryl HenryPosted
  • Rental Property Investor
  • Frederick, MD
  • Posts 14
  • Votes 10

@Hobart King

Hobart. I’m a licensed insurance agent in Maryland. Certified insurance counselor and certified risk manager. You want me to take a look at the policy? Can’t sell you anything but I’m happy to help

Post: Insurance is killing my rentals

Daryl HenryPosted
  • Rental Property Investor
  • Frederick, MD
  • Posts 14
  • Votes 10

@Hobart King

That seems like a lot. Are you sure those are monthly rates?

Have you shopped around? Try to find a good independent agent

Post: 1st BRRR Completed - All my money out Plus some - Thank you BP!

Daryl HenryPosted
  • Rental Property Investor
  • Frederick, MD
  • Posts 14
  • Votes 10

@Jake Peetz that’s an inspiring story. Thank you for sharing!

Post: Rehab Estimate Cheat Sheet

Daryl HenryPosted
  • Rental Property Investor
  • Frederick, MD
  • Posts 14
  • Votes 10

@Allen Tracy. Makes sense. Thanks!

Post: Rehab Estimate Cheat Sheet

Daryl HenryPosted
  • Rental Property Investor
  • Frederick, MD
  • Posts 14
  • Votes 10

@Allen Tracy Have you read The Book on Estimating Rehab Costs by Jay Scott? I’ve just started it, but it seems like it could be a good resource for this conversation.

Post: First property offer ACCEPTED

Daryl HenryPosted
  • Rental Property Investor
  • Frederick, MD
  • Posts 14
  • Votes 10

@Kevin M Dobyns congratulations!

Post: 1% rule, 2% rule are BS...

Daryl HenryPosted
  • Rental Property Investor
  • Frederick, MD
  • Posts 14
  • Votes 10

@Joe Cassandra Thanks for the ideas.  I'm in a similar position trying to put together a system for doing this in my free time.  This helps.

his is what I've found from the MLS at least where I am in Woodstock, Marietta, Cartersville, Acworth area in Georgia...

#1. If you have a wide circle of places you're looking...say 7-10 COUNTIES (not cities), you could definitely pick up an MLS deal here and there. That would require. 1a) Looking constantly...multiple times per day...easier if you're a realtor 2a) You have a TON of time on your hands...say you're an REI for a living.

#2. If you're like me...I look in 2-3 counties only...plus, my main focus is my marketing business which takes most of my time...I have to be hyper focused on my time and efforts. So I only focus on off-market efforts. Direct mail. PPC. SEO. Starting Google display and FB ads soon.

As they say...you save time or you save money. I'm forced to go with saving time.

In no way am I an expert at these methods yet...still learning and making a ton of mistakes...but if I can keep at it, in another 12 months, I should have it working well.

----
Also, just posting on BP helps. The Woodstock deal @Kaustubh Johri came from someone who found me on here and referred me to it (off market).

So posting on BP helps as well.

My other 20 leads in my CRM are all direct mail...except for 2 who were wholesalers who found me personally and called me.

Takes time to learn the ropes...I'm still learning...but it's encouraging as you see progress and work paying off

Joe CassandraRocking Porch Homes Logo

do whit

Post: 1% rule, 2% rule are BS...

Daryl HenryPosted
  • Rental Property Investor
  • Frederick, MD
  • Posts 14
  • Votes 10

@Joe Cassandra. This is a helpful pointer. I’m newer, but I’ve spent every day of the last month on the mls looking for properties that cash flow. The only ones I find are multi families in c-level neighborhoods.

Do you have strategies for identifying off market properties?

Post: Individual roofer with only medical coverage - do I hire or not?

Daryl HenryPosted
  • Rental Property Investor
  • Frederick, MD
  • Posts 14
  • Votes 10

@Nick Brubaker use the one with workers compensation. State laws vary by state as to whether the contractor is required to carry workers compensation, but in any situation, if the uninsured roofer gets hurt on the job site, he’ll be more likely to try to come after you.

Post: Newbie in Frederick County MD / Jefferson County WV

Daryl HenryPosted
  • Rental Property Investor
  • Frederick, MD
  • Posts 14
  • Votes 10

@Omer Ashkenazi — are you investing in the frederick area? I live in Frederick. I’m a newbie. Looking to make connections with other investors in the area

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