All Forum Posts by: Matt Wells

I want to get the community's thoughts.  How much money should I insure my rental properties for with ACV (actual cash value) and $10K deductible? Should I insure for the capital I have in the homes or for how much they are currently worth? I have added value to all of my properties, and they have risen in value from appreciation. If the homes get destroyed I will not rebuild. I want my initial investment back and to move on to other opportunities. If there is a fire or whatever else, I will not claim unless the cost to repair is $20,000 or more. 

David Greene has mentioned in the podcast multiple times a simple real estate investing spreadsheet he uses to track his properties. Can anyone tell me what info goes into the columns? I want to create the same spreadsheet for my properties.

I understand that Section 8 tenants can have the rent raised a certain % each year. I am wondering if I don't raise the rent for a few years, can I bank the increases into one year? For example, Let's say I am allowed to raise the rent by 2% a year for Section 8. If I don't raise the rent for 3 years, can I then bank that increase and raise rent by 6%?

@Randall Alan Thanks! Very helpful.

If I have a property in a primary residence 30-year conventional loan and I am now using it as a rental property, can I refinance it in the same primary residence loan, or would I get higher investment property rates?

I'm thinking of buying a tenancy in common unit as a primary residence. I may lease it out after a few years if it's allowed. I know TIC units are harder to get loans for, which makes them harder to sell and could impact the price. I've also heard it's tough to get a HELOC on them. If anyone has any experience living or investing in a TIC, please share the pros and cons and your experience. Any advice is appreciated.

@Randall Alan Thank you Randall that was very helpful. And Thanks to everyone else for their answers! It's all helped.

@Theresa Harris There are NO mortgages, new or old on the rental properties. They will be paid off. I'm asking if it's wise to use the cash flow from three paid-off rental properties to pay the mortgage on a 4th property (a primary residence) on a 30-year mortgage. This is the only question and the only factors.

Pretend the rentals are worth $100k each and the 3 bring in a total of $3,000 a month. I would have a down payment (20%) for the 4th property, my primary residence. That property would cost $300,000. Pretend I'm in the area for 5 years. Let's just say Oakland, CA. 

@Theresa Harris I'm not actually in this situation. I'm just asking questions so I can't run the number. I feel like I'm either not explaining my question correctly or people keep adding in their own factors and twisting it around. Just looking for an answer to my question without extra factors I didn't mention.