New Investor discussion pt 3 of 3

[@buzztune-ft6lc]

Thanks for diving into the details like this. It really helps. Loved the rare earth song!

[@Coast_to_Coast]

I’m in Florida and insurance is just going crazy. Thanks for posting your chat.

[@OldGuyREI]

Thank for watching!

[@durtydeedsREI]

Yes, this information on insurance is great...very informative! Makes more sense now what Rent to Retirement was doing on their proformas.

[@OldGuyREI]

Excellent! I love hearing that. Thank you for watching.

[@FinancialFIRE-Fighter]

Good job fellas

[@cynthiacontreras5667]

Good stuff!

[@durtydeedsREI]

Same as Cody, I'm mostly listen to podcasts and books these days so music has kind of taken a back seat.

[@OldGuyREI]

Get that music back in there, it helps us recenter ourselves.

[@durtydeedsREI]

AC/DC, Guns and Roses, Nirvana, Pearl Jam, System of a Down, Metallica, so many to name. And Hymns (yep, that's the odd ball out of the group).

[@OldGuyREI]

I love it!

[@laurasamaniego5937]

Great information about insurance. It is a big concern for FL owners/investors. An average of 20% of people with paid off properties are self insured or only covered for liability, fire, theft not covered for hurricane. Putting the money in a emergency high yield savings acct. for hurricane. I am not suggesting to do this just sharing my findings of asking people and attending city meetings. Insurances are so out of control in Florida. Franks thanks so much for sharing the insurance information.

[@OldGuyREI]

@laurasamaniego5937 Laura I only heard about self insuring this year. The example was a couple paying 8k per month did just that. Put the money in a savings account. Saving about 100k per year. In a few years had enough to rebuild if necessary.

[@laurasamaniego5937]

@OldGuyREI yeap. I have a friend who has been doing this for 10 years. She has 5 paid off sfh. with part of the saving bought another property. I am always interested in knowing what others are going about insurance. It used to be a FL thing it is now a nation thing, but worse in Florida. Insurance is eating the cash flow.