[saiine]

Congrats jc. I love Craftsmen homes. You’ll have to post some before and afters!

[saiine]

Congrats jc. I love Craftsmen homes. You’ll have to post some before and afters!

[saiine]

[quote=SD Realtor]That guy is awesome. Very good for him. I had Wells Fargo contact me about my homeowners insurance as well. They said they wanted to make sure that my coverage was “up to date” regarding the replacement cost of the home. I told them that yes it was and that if the had an issue they could contact my carrier. Never heard back from them.[/quote]

Can’t believe it’s real, what recourse do they have to go from 180 to a million? Did I miss something?

[saiine]

[quote=SD Realtor]That guy is awesome. Very good for him. I had Wells Fargo contact me about my homeowners insurance as well. They said they wanted to make sure that my coverage was “up to date” regarding the replacement cost of the home. I told them that yes it was and that if the had an issue they could contact my carrier. Never heard back from them.[/quote]

Can’t believe it’s real, what recourse do they have to go from 180 to a million? Did I miss something?

[saiine]

[quote=SD Realtor]That guy is awesome. Very good for him. I had Wells Fargo contact me about my homeowners insurance as well. They said they wanted to make sure that my coverage was “up to date” regarding the replacement cost of the home. I told them that yes it was and that if the had an issue they could contact my carrier. Never heard back from them.[/quote]

Can’t believe it’s real, what recourse do they have to go from 180 to a million? Did I miss something?

[saiine]

[quote=SD Realtor]That guy is awesome. Very good for him. I had Wells Fargo contact me about my homeowners insurance as well. They said they wanted to make sure that my coverage was “up to date” regarding the replacement cost of the home. I told them that yes it was and that if the had an issue they could contact my carrier. Never heard back from them.[/quote]

Can’t believe it’s real, what recourse do they have to go from 180 to a million? Did I miss something?

[saiine]

[quote=SD Realtor]That guy is awesome. Very good for him. I had Wells Fargo contact me about my homeowners insurance as well. They said they wanted to make sure that my coverage was “up to date” regarding the replacement cost of the home. I told them that yes it was and that if the had an issue they could contact my carrier. Never heard back from them.[/quote]

Can’t believe it’s real, what recourse do they have to go from 180 to a million? Did I miss something?

[saiine]

[quote=CDMA ENG]Man! You were not kidding! He may be a vampire but he is well spoken and smart.

CE[/quote]

For sure, but I lol’d at least twice.

[saiine]

[quote=CDMA ENG]Man! You were not kidding! He may be a vampire but he is well spoken and smart.

CE[/quote]

For sure, but I lol’d at least twice.

[saiine]

[quote=CDMA ENG]Man! You were not kidding! He may be a vampire but he is well spoken and smart.

CE[/quote]

For sure, but I lol’d at least twice.

[saiine]

[quote=CDMA ENG]Man! You were not kidding! He may be a vampire but he is well spoken and smart.

CE[/quote]

For sure, but I lol’d at least twice.

[saiine]

[quote=CDMA ENG]Man! You were not kidding! He may be a vampire but he is well spoken and smart.

CE[/quote]

For sure, but I lol’d at least twice.

[saiine]

[quote=SD Realtor]Hi Saiine. What I meant that the numbers were not right was that I didn’t know that you had all those items I mentioned factored in.

So roughly you have

Mortgage payment + HOA + estimate for annual repairs + cost of vacancy + property tax + HOA

MINUS

Rental Income

to get your cash flow.

So if your numbers included all of those items then they are okay, I am not sure if they did or not. Now I also said roughly because those are the items that just came to mind, I may have missed one or two.

Now this is only with reference to cash flow. On the flip side the benefits are depreciation and you can expense other things that you could not when the home was owner occupied.[/quote]

Ah ok.

My calculations were HOA, Taxes, Insurance. I had neglected upkeep though. One number I do not feel confident about yet is the amount I would receive back from the gov. I claim 0 as of now and can imagine if I can write off 22k or so I would receive a return of 3-4k. I’m also not sure if it’s a mistake to factoring that in when it comes to cash flow.

I started to also factor in an avg of .5% appreciation YoY for 5 years but ended up not following through on that, as we REALLY have no idea what’s going to happen and I don’t think I should rely on any assumptions at this point.

[saiine]

[quote=SD Realtor]Hi Saiine. What I meant that the numbers were not right was that I didn’t know that you had all those items I mentioned factored in.

So roughly you have

Mortgage payment + HOA + estimate for annual repairs + cost of vacancy + property tax + HOA

MINUS

Rental Income

to get your cash flow.

So if your numbers included all of those items then they are okay, I am not sure if they did or not. Now I also said roughly because those are the items that just came to mind, I may have missed one or two.

Now this is only with reference to cash flow. On the flip side the benefits are depreciation and you can expense other things that you could not when the home was owner occupied.[/quote]

Ah ok.

My calculations were HOA, Taxes, Insurance. I had neglected upkeep though. One number I do not feel confident about yet is the amount I would receive back from the gov. I claim 0 as of now and can imagine if I can write off 22k or so I would receive a return of 3-4k. I’m also not sure if it’s a mistake to factoring that in when it comes to cash flow.

I started to also factor in an avg of .5% appreciation YoY for 5 years but ended up not following through on that, as we REALLY have no idea what’s going to happen and I don’t think I should rely on any assumptions at this point.

[saiine]

[quote=SD Realtor]Hi Saiine. What I meant that the numbers were not right was that I didn’t know that you had all those items I mentioned factored in.

So roughly you have

Mortgage payment + HOA + estimate for annual repairs + cost of vacancy + property tax + HOA

MINUS

Rental Income

to get your cash flow.

So if your numbers included all of those items then they are okay, I am not sure if they did or not. Now I also said roughly because those are the items that just came to mind, I may have missed one or two.

Now this is only with reference to cash flow. On the flip side the benefits are depreciation and you can expense other things that you could not when the home was owner occupied.[/quote]

Ah ok.

My calculations were HOA, Taxes, Insurance. I had neglected upkeep though. One number I do not feel confident about yet is the amount I would receive back from the gov. I claim 0 as of now and can imagine if I can write off 22k or so I would receive a return of 3-4k. I’m also not sure if it’s a mistake to factoring that in when it comes to cash flow.

I started to also factor in an avg of .5% appreciation YoY for 5 years but ended up not following through on that, as we REALLY have no idea what’s going to happen and I don’t think I should rely on any assumptions at this point.

[Author]

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