All Forum Posts by: Peter Philando

This post is unbecoming .... "extra trigger time" ...... this is your input to the conversation? Look inside yourself!

@Greg Parker Thank you. I called them and made an appointment

I'm looking for a pool company that repairs and service pools in the Montgomery area. My PM referred a company and I have left messages over the past few days without any reply. I even filled their contact form on the website a few days ago, but no contact from them. Any help here would be highly appreciated. Thanks.

Added this to my calendar and will make every effort to be there. Thanks

I agree that you need to develop a good working relationship with a realtor to move your business farther. However, its in your best interest to try to figure out pricing in your farm area. If you find a deal that is off market and you need to make a quick decision, then knowing this information puts you in a more informed position. I use a combination of many online ARV estimators, plus my realtor. I create a spreadsheet in Google Sheet where I keep track of potential deals. One tab has the basic deal info, like property address, property appraiser assessment, asking price, offer price, potential equity and cash out equity. The "comps" tab is an average of:

https://icomps.com/

https://express.realquest.com/search.aspx

https://www.realtor.com/

https://www.realtytrac.com/

https://www.eppraisal.com/articles/what-is-my-house-worth/

https://www.trulia.com

https://www.redfin.com/

This should give you a quick glimpse of the property value, use a conservative ARV to do your numbers, and check the property appraiser assessed value (which is typically below fair market value). Run numbers on properties constantly to hone your skills. The spreadsheet allows me to go back and check numbers on sold properties on the list and also see potentially what other investors paid, renovations done, and ARV-to-sale price.

Potential Deal Spreadsheet

Hope this was of some help

@Mike Huerta Your property manager should be your eyes, ears, boots on the ground in when you invest out of state. If you want to know the areas to invest in another state, just call up some property managers in the area and start asking some questions because they are the ones who actually deal with rentals and tenants. They will also tell where they do not manage properties and that's definitely places to avoid. I think this is actually the best starting point when investing out of state.

Talk to the property manager and make arrangement for the key delivery. They will most likely secure the property with some form of access locking. Start developing a relationship with the PM so you can grow together.

I would tithe on my increase, which would be profit whether you take it home or leave it in the business. Dave Ramsey teaches tithe on profit or take home pay. Crown Financial teaches tithing on gross income. Either way, tithing is of the heart and a recognition that your increase is because of God, therefore do it diligently and joyfully.

@Kyler Cook I believe you already have your answer, tithing on your gross. I would not include appreciation since that is an unrealized gain. You can tithe on rental income, just as you account for property management. The thing is that you're not tithing so that you can be blessed (because God can bless you as He please whether you tithe or not), but you're tithing BECAUSE of God's blessings.

Hope this was of some help

@Ron H. Do you have contact information

Doing my first flip in South Florida and my lender requires me carry insurance.....bind a policy before going to closing. My current insurance agent seems a bit shaky dealing with this coverage. He found coverage but I need to do a 4-pt inspection before he binds the policy. I dont mind paying $85 for the inspection but it seems he's finding out these things as he goes along so it taking a while and I need the bound policy so I can close by April 26. With all the flipping going on in south florida I cant believe this is what everyone goes through.

Starting my first rehab in Florida but need recommendations for contractors and subs