All Forum Posts by: Andrew Adamany

Hey everyone, I have a question regarding LTV and LTC with Private Lenders:

When a Lender looks at both the LTV at the ARV number AND the LTC, are they going with the lower number of the two? For example:

Max LTV to qualify is 70%, and 90% for LTC

Purchase Price is $60k

Repair Cost is $40K

ARV is $150k

The max LTV would be $105 (more than the total cost) and the max LTC would be $90,000.

Am I correct to assume the lender would lend the $90,000?  I wanna make sure I'm not neglecting or misunderstanding something?

Thanks!

Thanks, Nick.  does property insurance cover damages or malfunctions to appliances, or do you stick with each appliances manufacturer's warranty (if it's new enough to have one?)

Hi all,  I'm looking to invest in my first rental property soon.  I've been scouring the site and the whole internet trying to cover all my bases, and one thing I'm still curious about is what insurance policies do Rental Property Owner's get.  

Do you get both Homeowner's insurance and a Landlord Policy?  The Tenant is responsible for buying Renter's insurance, Landlord Insurance is the Investor's side of the coin, yes?  Do you cover your appliances as well with an Appliance Warranty?  And are there any other types of insurance you include?  As I crunch my numbers looking for a property, I want to make sure I'm not overlooking something or factoring in policies that aren't needed.

Thanks!