All Forum Posts by: Asia Zdziarska

Hi there, please can anyone tell me if I need to have homeowners or landlord insurance on a condo property that I own?

The HOA has it's own insurance already.

Is there any reason I should be spending money on this? 

I understand that it is necessary on a single family home but is it necessary on a condo?

The property does have a mortgage associated with it so I guess the bank could require it. That could be a reason.

And if so, should it be homeowners or landlord insurance?

I'm not sure an insurance agent will give me the best information for me, they are generally geared towards selling you the insurance...

Thank you for your advice!!

Thank you @Naseer Khan.

Your advice is very valuable and much appreciated.

Thank you all!! That is super useful information.

@Naseer Khan

I have been advised that if the properties are being managed by a property management company in Arizona then we can open an Arizona based LLC and only pay local Arizona LLC fees which attract a once off fee rather than an annual one. And can be investors in the property rather than being deemed to be doing business in California. What do you think?

Dear BiggerPockets investors, I live in California and am in the process of purchasing 4 condos in Arizona. I have been advised to set up an Arizona based LLC. Does anyone understand the pitfalls/tax implications of doing this? Thank you for your advise in advance.

great! thank you all for your feedback. i really appreciate it.

Hi David and Frankie,

I'm also close to Torrance. I am also looking for multi family houses in the area. Where would you recommend one invest David? An hour and a half away doesn't sound too bad.

Asia

hi there, 

can anyone point me to where i could find or go about looking for some good wholesalers in the los angeles, south bay, culver city and torrance areas? any tips of how to establish a relationship with a wholesaler and get a stream of deals?

thank you all for your help :-)

asia

thank you all. it's awesome that you guys are out there and willing to share your knowledge.

i am already listening to the podcasts. they are amazing. and will definitely check out the books and meetings you recommended @Paul Timmins.

i have also added development to my alerts @Joe Cantanzriti. let's keep in touch for sure.

i did do real estate development classes as part of my degree. i've always been interested in it. architects don't make nearly enough money for the amount of work they put in. 

i am an architecture graduate very interested in getting started real estate development. i have already dabbled in real estate buy and hold deals and own some property. i also have some experience in design and development. i would like to develop my knowledge and portfolio by getting started with rehab deals in Southern California.