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Updated almost 18 years ago on . Most recent reply
my moms rental kitchen burned up-insurance pays too little
Hi all- what a cool website. This is my first post. My poor mom has 4 rentals, two with big problems. In one, the kithen is completely burned out and insurance will only pay 10, 000 dollars. Luckily my husband is a contractor and is going to help but can only do it on weekends. In the other, the furnace broke and the renters moved out because it was too cold. Heating contractors have said they dont know what's wrong. My main question is how can she make insurance pay more? Don't they know it costs more than 10,000 just for materials for a kithen remodelong? Also, I am following in her footsteps and just bought a second home so I could be closer to work. I am going to rent out my first house and barely break even. I dont want to sell it because it will be paid off in 15 years and will be a good asset for retirement. I was going to rent it out to Section 8 tenants. Any suggestions?
Most Popular Reply
After much soul searching I have decided to sell my beloved house. Spending the last few weeks on this website, I have come to realize that this truly is a business, and to become successful, I must treat it as such. All cash and mike OH, your strickly-business approach on many topics of these forums have helped me open my eyes. All cash, sometimes I have laughed out loud at your answers because they are so brazen, but nevertheless, ALWAYS make sense. Still waiting on that book.