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All Forum Posts by: Dustin Seager

Dustin Seager has started 7 posts and replied 19 times.

Post: Insurance for multiple properties?

Dustin Seager
Pro Member
Posted
  • Interior Designer
  • Tampa, FL
  • Posts 19
  • Votes 12
Quote from @Tim Delaney:

Do you use a broker currently? Your best bet is to consult with a good broker that has experience with business insurance and RE. My gut says you probably want/need separate policies for the different entities at the very least - the purpose of having them is to keep things separate in case of a lawsuit, so combining insurance would pierce the veil and allow someone to come after everything.


 I do not have a broker, but feel like i can use one.

Post: Insurance for multiple properties?

Dustin Seager
Pro Member
Posted
  • Interior Designer
  • Tampa, FL
  • Posts 19
  • Votes 12

the Scenario:

We have an LLC, 2 long term rentals, 1 short term rental, 1 future short term rental about to undergone renovation. I have a general contractors and interior design license. I'm required to have liability insurance for my contractors license, and I'm wondering if there is an appropriate way to consolidate insurance.

Post: Buying STR - LLC or no LLC?

Dustin Seager
Pro Member
Posted
  • Interior Designer
  • Tampa, FL
  • Posts 19
  • Votes 12

We are purchasing and rehabbing a short term rental, but need to decide whether to put in our names or in an LLC?

Heres the scenario:

Married - Husband owns 2 properties (1 long term and 1 short term) and wife owns 2 properties (1 long term and primary residence)  in each of their own names.

Husband has LLC with zero properties. Husband is also a licensed building contractor and wife is a realtor (if it matters).

We are trying to determine if it makes the most sense to put our first property that we are purchasing together into an LLC or not? We are finding conflicting information as it pertains to insurance and liability.

Post: Florida Tax Professional

Dustin Seager
Pro Member
Posted
  • Interior Designer
  • Tampa, FL
  • Posts 19
  • Votes 12

A little late in the game but we are struggling with the 8582 Form in filing our taxes. We are hoping to connect with a Florida tax professional.

Post: ISO of Manufactured Home Cash-out Refi Lender

Dustin Seager
Pro Member
Posted
  • Interior Designer
  • Tampa, FL
  • Posts 19
  • Votes 12

I'm having a difficult time finding lenders who will finance a single-wide mobile home on 2.5 acres in Land O' Lakes, FL. It's a recently fully renovated home in excellent condition. The property will be used as a rental and the loan will be used to pay off the debt accrued during the renovation which is now complete.

Post: Equity Line of Credit on Lot with Manufactured Home

Dustin Seager
Pro Member
Posted
  • Interior Designer
  • Tampa, FL
  • Posts 19
  • Votes 12
Quote from @Ryan Muska:
Quote from @Dustin Seager:
Quote from @Ryan Muska:

Is the property a mobile home?

Yes. It’s a 14x75 single wide on 2.5 acres. It’s all owned outright. 

That is the reason you are having much difficulty. Mobile homes are hard to lend on. Also, if you don't have a first mortgage you won't be able to get a HELOC. Those have to be in second position. I'd love to connect so I can see more information and try to get you what you need



 Would be happy to chat with you Ryan to pick your brain.

Post: Equity Line of Credit on Lot with Manufactured Home

Dustin Seager
Pro Member
Posted
  • Interior Designer
  • Tampa, FL
  • Posts 19
  • Votes 12
Quote from @Wyatt Wolff:

How old is the mobile home? If its older than 20 years old, then I don't think you will be able to get a line of credit on it. I could be wrong, but I have run into that problem before 

Its a 1987. Not sure if this will make a difference, but it was fully gutted and renovated this past year. New metal roof, new exterior skin (sheathing, siding, windows, etc). All new plumbing, heavy gauge LVT flooring, new cabinets, showers, etc. Its basically a new home on the original frame. 

Post: Equity Line of Credit on Lot with Manufactured Home

Dustin Seager
Pro Member
Posted
  • Interior Designer
  • Tampa, FL
  • Posts 19
  • Votes 12
Quote from @Ryan Muska:

Is the property a mobile home?

Yes. It’s a 14x75 single wide on 2.5 acres. It’s all owned outright. 

Post: Equity Line of Credit on Lot with Manufactured Home

Dustin Seager
Pro Member
Posted
  • Interior Designer
  • Tampa, FL
  • Posts 19
  • Votes 12

I have a fully renovated manufactured home on 2.5 acres with a zero mortgage in Land O' Lakes, FL. I am interested in obtaining an equity line of credit and having a difficult time finding lenders who work with property with manufactured homes. Looking for input or any clever ideas. 

Post: Looking for lender - package of 3 SFH in Florida

Dustin Seager
Pro Member
Posted
  • Interior Designer
  • Tampa, FL
  • Posts 19
  • Votes 12
Quote from @Zach Edelman:

Hello Dustin! I work for a direct and reliable hard money and DSCR. We do a ton of business in FL. I just closed a fix and flip in Wilton Manors, FL and another in Del Ray! I also recently closed a DSCR acquisition loan in Cape Coral, FL. I'd love to take a look at your scenario with you and draw out ways in which we can execute!


 Thanks Zach. I sent you a message.