All Forum Posts by: Emily Powell

 Bingo!

@Jason Bott Gotcha.  I'll have to investigate this option.

Do it!  But first, lots and lots of due diligence.   Find an investor friendly agent (who ideally is also an investor).  Find a PM who is recommended and has good reviews.  BP is an amazing place to find these things. First you'll need to figure out where you want to invest.  And from there, you can reach out to people on BP to ask about agents and PMs.  As someone who grew up in Los Angeles and spent most of my adult life in New York, I too needed to find somewhere to invest outside of those cities where cashflow was near impossible.  Buying OOS certainly has it's challenges, but with a great property manager, you'll be just fine.

@Jason Bott That's what I thought which is why I was confused by the above thread.  Could you elaborate on the comment you made about commercial companies that will combine rentals into 1 policy?

Houston investors... 

I currently own 4 SFRs in the Houston area.  I was very lucky and walked away with minimal damage following Harvey.  But I'm wondering whether this should be a wake-up call to get flood insurance on my properties going forward. They are all in Flood Zone X, but as we know, many houses in low risk areas did in fact flood.  

Just looking to get input from other Houston investors as to whether or not you have flood insurance and/or whether you may have acquired it following the recent devastation in the city.

For those that do have it, did it cover your damage?   

Thanks in advance for your feedback.

-Emily

That's crazy!  I have most definitely walked away from a property if the taxes were too high (although I've never seen a spread that wide).  I actually stay away from certain counties because I know the taxes are higher than I prefer.  If the numbers don't work, I don't see the point of making the purchase.  Depending on what rents are in your area, if they're not going to cover your monthly...what's the point?  It's not like a $50K house is going to appreciate to $500K and make the purchase worth your while.  Just my two cents.  

@Jason Bott - In your experience, what is the minimum # of units to be considered for an umbrella policy?

@Dustin Cavalier - I second @Jeff Wallace!  @Andrew Taylor, that's the correct link.  He is very knowledgeable, invests in the area himself and is wonderful to work with.  I've closed on one property with him and working on a few others right now.

@Linda Hastings Sorry I was not helpful.