All Forum Posts by: Eric X.

The $1,000 covers everybody. But you will get charged quite a bit per doctor visit anywhere from 100 to $300. In actuality health insurance now is basically catastrophic insurance. For the thousand dollars a month you are basically buying into the pre-negotiated rate of whatever insurance company you select.  Until the deductible you pay in full whatever they pre-negotiated rate is.after that I think you pay 40% up until the maximum out-of-pocket which I don't know off the top of my head.

I didn't see that you were from New York.New York New Jersey and Illinois are all pretty bad in terms of property taxes.

the premium outlet does depend on your age so if you're in your forties fifties or sixties it will go up significantly.

I am still a bit a ways from 60 but I would not be surprised if the premium is 2 to 4k monthly if things go unchecked.

I actually talked to some of my lower income tenants about this from time to time. some of them have very low income and thera quote on quote insurance is subsidized but they can't afford to go still because they are still responsible for a deductible. So while it may look better on paper that more people are "insured" that is not really the case.

However, if you consider that the USA has a favorable tax rate overall and extremely favorable tax deductions you can probably consider the price of health insurance as a first world problem. Still... There is nothing affordable about the affordable Care act. my costs have significantly increased while my benefits have significantly decreased.

For now I will just keep on using a HSA high-deductible plan and use it as a catastrophic insurance with pre negotiated rates until things change. 

there are alternative health plans that are faith-based but they can get a little quirky

Health insurance for self employed is terribly expensive. We are in our mid 30s with kids but overall we are decently healthy so we have a high deductible plan with HSA through Lively. It is 1000+ monthly premium with a 6k deductible but that's the world we live in. We are in Illinois....sometimes I wonder why I'm still in this state.  Pay 2000 monthly for health insurance and property tax on primary home...sigh.

@Jack Taylor

The biggest expense is going to be title insurance.  That will probably run you ~2k with a major title company.  Without any details on how much PAL, stamps and any other fees... it seems about right. 

You will sign a nice piece of paper saying your attorney is an agent of the title company and he will get paid by the title company.  That is why attorneys in Illinois love to represent sellers and not so much buyers.  On the buy side they get their fee which is 300-600 usually. on the sell side they get 300-600 plus 1500+(attorneys get majority of title insurance fee)

That is more or less FYI but doesn't look out of line. 

Have you asked your attorney about the fees or your realtor? If you have questions or issues about the fees, they are the people to ask.  They are representing you and your best interest.

You need to talk to wholesalers or try to find off market properties. retail properties in my neck of the woods are very difficult to fully BRRRRR. Need off market/auction properties to get a true BRRRR done

It all depends.  Anywhere from 50 - 200 depending on how good they are and how many attempts they will do.

@DeJarian Dickson Graham

One time I hired a process server that attempted 7 times with no luck (low cost process server so I didn't expect much)

I ended up getting up at 5am and waiting outside the house to wait for him to get out to go to work to serve him personally.  

There are really good process servers that cost a bit more then they are excellent in their ability to serve.  Plenty of options out there.

@Lisa Sluss

You're welcome.  You will have to disclose (at least in Illinois) that you are an agent but that will be the cheapest option for you assuming you don't want to move brokerages. 

If you know the ins and outs of listing properties and how to price your property correctly, search for a flat fee MLS broker in your state. usually 500$ or less for the whole deal but you need to do majority of the work such as showings, staging, photos etc etc.

@Kalen Jordan There are zero large PM companies that have positive reviews.  That is probably by design.  PM companies follow the letter of the law most of the time with almost little to no leeway.  Majority of the time the tenants complaining are in the wrong but they will leave negative reviews.  

That is why I manage my own and invest locally whenever possible.  

Did you use an attorney? You don't legally have to go through anything.  Plenty of deals have fallen apart due to appraisal.  It is usually your choice to request a new appraisal or appraisal adjustment.

It the appraiser admitted he screwed up you should be able to get that adjusted pretty easily.  Someone dropped the ball.  If it came in at 340k and you agreed to it before you found out about the discrepancy that is a different story.

I would contact your attorney if you had one.