Realty Mogul Returns Reach $100M in Cash Disbursements 

Crowdfunding firm Realty Mogul has reached $100 million in cash disbursements, a major milestone for the company, reports exclusively. The firm has two REITs, MogulREIT I and MogulREIT II as well as private placement opportunities, all of which contributed to the returns. The $100 million in cash disbursements includes cash flow, appreciation and return of principal. The first REIT has generated 8% annualized returns over the last 24 months. The second REIT, which is focused on long-term capital

Source: Realty Mogul Returns Reach $100M in Cash Disbursements

How to get results from insurance carriers

Q: Our condominium sustained significant damage from Hurricane Irma.  It has been a year and our insurance carrier is offering a settlement that is woefully inadequate to address our damages.  We have been advised that we have window damage and the roofs must be replaced.  The insurance carrier is ignoring our demands. What do we do? T.C., Naples

A: It is hard to believe that Hurricane Irma was a year ago, but your question is unfortunately still a common question. Many insurance carriers are denying coverage, breaching the insurance policy requirements, or taking no action to delay the claim adjustment. On top of that, Southwest Florida received numerous roofing and water remediation contractors from all over the country that formed in Florida in October 2017. In this atmosphere, a few of our condominium clients had great experiences with their contractors and insurance carriers, but the more common experience is frustration and delay.

Our firm employs a team of attorneys and staff that are devoted solely to assisting condominium and homeowners’ associations with their insurance claims. In part, this is because the frustration and delay has reached a critical point and the boards need to compel action to repair their communities.

Source: How to get results from insurance carriers

They spent $15,000 adding a driveway to their St. Pete House. Now the city says they can’t park on it

One day in January, Dana Cremo was on her front porch hanging a vintage screen door when two city employees walked up.”You can’t park on your driveway,” they said.”Why?” she asked. “Because somebody filed a complaint,” they said.Five days later, an investigator notified Dana and her husband, Larry, that they had violated city codes by adding a driveway to their home in the city’s Historic Old Northeast. They were cited even though city officials had approved their plans four different times. Even thou

Source: They spent $15,000 adding a driveway to their St. Pete House. Now the city says they can’t park on it

Is Owning an Airbnb a Smart Investment? 

It’s easy to see the rise in popularity of Airbnb and other online vacation rental sites and think it’s a good idea to buy a property dedicated to short-term housing. But that strategy may not be as simple or lucrative as it seems, experts warn. The old adage “location, location, location” is true even more in vacation rental ownership. “Certain areas are better for year-round renters,” says Will Woodard, a certified financial planner in North Carolina’s Outer Banks. He explains the climate in his hometow

Source: Is Owning an Airbnb a Smart Investment?

How has a Singer Island mansion dodged water bills for 6 years?

The waterfront house at 2765 Lake Drive is the ninth most valuable in Riviera Beach, its worth estimated by the county at nearly $2.2 million.Yet, despite its lush lawn, dock and swimming pool on Singer Island alongside the Intracoastal Waterway, five bedrooms and four full baths, utility bills obtained by The Palm Beach Post indicate no one at the 5,900-square-foot property used any water the past six years.No showering? No flushing? No dishwashing, lawn watering?

Source: How has a Singer Island mansion dodged water bills for 6 years?

Wall Street and single-family rental homes

Jennifer Paul St. Denis thought she had found the perfect landlord. A mother of two from Marietta, Georgia, St. Denis had been looking for a new home last summer after separating from her husband. Her search didn’t take her far. After spotting an ad from a company called Waypoint, she discovered they had a “super-cute” two-story home with a yard and back porch a few blocks away. At $1,449 a month, it was even within her budget. St. Denis loved staying in the same neighborhood, but, just as importantly, she appreciated the security that came with her new landlord.

Waypoint is one of a new breed of large-scale corporate landlords heavily invested in the single-family rental market. (Waypoint has since merged with Invitation Homes. At the time St. Denis moved in, the company had a multi-state portfolio of more than 30,000 homes.)

“Being a [newly] single mom trying to find a good place for my kids, it was appealing to have a company with the staff and resources to solve problems I didn’t have time to address,” she says.

Source: Wall Street and single-family rental homes – Curbed