All Forum Posts by: Dimitri Paspalaris

@Chris London gotcha. This is my first property so I am trying to figure this out. I will play with the coverage. Thanks for the insight. For the pets I am gonna make sure they have renters insurance prior to renting the property and limit which pets are allowed. I got quoted for $1060 and thought this was a little bit much for an insurance policy. Would you also recommend a higher deductible to help drive prices down?

Is this too cheap for rental property insurance and does the dwelling need to go up? The cost of the property is 160k.

$537.00

12 Month Term

$75,000 Dwelling

$300,000 Personal Liability

$6,000 Personal Property

$2,000 Medical Payments

Loss of Use: $2,400

$500 All Peril Deductible

- Loss Assessment
- Water Back-up
- Special Coverage
- Ordinance or Law 25%

@Tchaka Owen Thanks for the advice and we negotiated a cleaning for the AC. I am putting 10k aside in cash reserves and the property is in a great location and has been very well kept. 

I would look into the orange park area and then possibly the north side but if looking into the northside/dtown properties you need to be careful. If you need an agent and a broker let me know. 

I am currently finalizing my purchase of a townhome in Florida and the home inspection came back and said both the HVAC and water heater are over the life expectancy. They are both at 15 years. Should I ask for the seller to replace them or do I let them run till they break or do I purchase new HVAC and water heater? Thanks for the help. 

My broker just got back to me and said the rate currently is 5.125 and two points. I think this kinda of high. What do yal think?

I am getting ready to put an offer on a town-home in Jacksonville FL in St Johns county which has a great school district and was wondering if people are still renting properties due to COVID-19? I ask this question because I do not want to buy an investment and have it sit vacant for almost 6 months or greater. Thanks for the help.

@Andrew Syrios the property would be in one of the top school districts in florida. I am currently running my projections at 5% but would love to get a 4.25% . I don't have much debt. I have a small auto loan, and that is it.

I was wondering what the current rates are due to the corona-virus. I am looking into a 160k property and I am thinking of putting 20 or 25% down. In my mind I think the max rate would be 5% but realistically I see it around 4.25%. I have an excellent credit score what do you guys think that my possible rate could be? I am not living in the property it will solely be a buy and hold deal. Thanks for the help. 

@John Teachout is their any special paperwork we would need to fill out? Thanks for the help.