All Forum Posts by: Angelica Hughes

Thanks @Andrew Kerr !  I was thinking the same about having double insurance. I am going to reach out to the insurance agent this morning and have a little more discussion around this.  I will update the post once I know more in case anyone else ever needs to know.

Thanks again for your input, it's greatly appreciated!

Hello!  I am getting ready to close on my first investment property and came across having to purchase 2 types of insurance in order to close on my funding from a fix and flip Line of Credit product.  The bank required I have both homeowner's insurance as well as Builders Risk Insurance.  I'm sure this varies from state to state so if anyone in NJ can shed some light here I would appreciate it.  I just want to make sure that it is absolutely necessary to obtain both kinds of insurances.  Thank you!

I'm curious to know exactly how to form series LLC. Some of the research I have done supports the concept of filing articles of formation with the State and creating an operating agreement for the master LLC and series. I am assuming (and could be way off here) that the operating agreement is a document I can create myself. Another resource says you only need to note in your master article of formation that you can create series. Again, I am assuming that I will have to amend my articles of formation to include that language. Then from there create an operating agreement for each series. Not sure which to follow or if either are correct at all. If anyone out there has any experience with creating series LLCs, I would greatly appreciate the input. Thanks!

Ok, thanks. Appreciate the input!

Hello, I am new to investing in real estate and have little money for down payment. I came across a hard money lender named do hard money (www.dohardmoney.com). I've done some research on them and the BBB has them rated as an A. I read through a handful of negative comments and some say that the company rejects the majority of the properties that the average person comes across to rehab. When this happens they loose $650 because that is what the company charges to have one of their people go out and inspect the property. Initial investment with this company is $3000 to cover that $650 as well as your good faith offer of $2350 when you find a property. Does anyone have any experience working with this company or can anyone provide feedback on going this route for my first fix and flip? Thank you!