All Forum Posts by: Ashley Wilson

Thank you again @Jason Bott. I will contact you offline for a couple more questions I have:) You have been extremely helpful!

@Jason Bott Wow!!!! Thank you so much! Ok, so here is what I have. 

1) I do have a contract between my LLC and the GC and Subs dictating the insurance that they need to cover. They are required to sign prior to starting. They are also required to provide a copy of their insurance prior to receiving their first payment.

2) This is what I believe I need to focus on now.

3) My contract includes this point as well. 

With respect to each property's additional coverage, is that the only option for additional coverage, or is there a general policy that would cover the business, without redoing the process for each property.  Or, am I not understanding you correctly?

Thank you again!

@Zachary Paul Thank you, I can send you a message.

Thank you @John Mathewson, @Jason Bott, and @Account Closed. I purchase houses under my LLC. Then I hire a GC/PM, who manages the projects and hires sub-contractors. The GC/PM oversees the entire project, as I am not able to be at the site in that capacity. Please let me know if there is any additional information needed to recommend the type of coverage I would need. Thank you again!

@Shawn Connors 

@Eric Armstrong

Thank you both for your messages!  

Minimum Eight Flips

Good Morning BP Community!!!

Can you tell from the timing of my post, I am eager to get going on 2017?!?!?! Kidding aside, I really am motivated to get going! My business partner and I have set a goal of fully renovating EIGHT houses this year. In our third year of business, coming off flipping 3 houses, I believe this to be very realistic. We have spent the past two years building our team, and securing financing. Our new rate limiter is finding the actual properties. Our farm area is Montgomery, Chester, and Delaware Counties in Pennsylvania. Note, we have a few locations within those counties we don't touch, but they are small pockets. Anyway, our area is quite competitive, and therefore, we are finding the inventory to be quite low (especially recently). Does anyone have any ideas on how to increase our search? We currently search MLS, For Sale By Owner, and Craigslist. We also have flyers that we drop off at any house that we think might be a good candidate. Looking forward to your feedback!

Best wishes to all for a productive 2017,

Ashley

HEY BP!!!

I need your help! I am looking into getting Business Liability Insurance for my flipping company which is under a LLC. I need suggestions on companies, rates, what type of coverage I need, and anything else that you think might be helpful!

Thank you so much for your help!!!

-Ashley

@Jonathan Lehman I completely understand.  And IMO analysis is still a good thing, so I would be happy to help you with any questions you might have:)  If you are investing in Columbia too, I can help you get started with the analysis part (don't worry we don't compete in that area:))...and actually some of my contacts may even cover that area as well.  Looking forward to speaking with you and happy reading, hopefully you will find some helpful tips in some of the entries I have posted!

Congratulations and welcome!!! I am still relatively new to flipping (just finished our second year in business), and I have several blog posts (which you can link to from my page) about being a newbie and how we went about getting started. I am also from PA, so yay East Coast! I wish you lots of success and if you have any questions, feel free to ask:)