All Forum Posts by: Jessica Beard

I am closing on my first duplex tomorrow, located in Bedford, Ohio. I am having trouble finding a well-recommended property management company that services this area. My real estate agent has offered to manage the property for me. She actually lives near the property. She manages properties for two of my friends as well, but this is not her go-to business and she is not set up online for this service. My friends do not have any complaints with her but she sends the rents through a payment app and it seems a bit unofficial. I am not sure if this matters. Is it a good idea to use my agent as my property manager?

Any leads for property management that serve Bedford are still welcomed. Thank you!

What lenders are you guys using? I am closing on a 30 year conventional mortgage at 5.5% through Chase. This is with excellent credit and 25% down. This is my first investment property and I made the mistake of not shopping around first.

Thank you for the clarification @Jason Bott .

I reached out to NREIG and received a lower quote, recommended to me from someone on here. Wen't down to $881/year for $1mm liability, water and sewer backup and all the good stuff.

@mattmoylan

My quote actually does have water and sewer backup coverage on it with a premium of $75. Forgive my ignorance but what is the difference between premises liability and personal injury? @caseyjburkhead this is for a duplex. I plan to get renters in it asap, it does not need renovation. I received a quote through Epic Insurance and Foremost had the cheapest policy. I just upped the liability to $1million and the premium went up to $1,094 per year.

Hi all,

I am closing on my first investment property in Bedford, Ohio. I've received a quote for property insurance through Foremost and would like to know if this is a good deal. Any advice is much appreciated!

dwelling $100,000

personal property $1,000

loss of rents $10,000

liability $500,000

medical payments $500

premium total $1,061 / year

What do you think ? Is this a good deal or could i find a better rate?

I am under contract for my first rental property in Ohio. It's a duplex. I am looking for recommendations for landlord insurance in the Cleveland area. How much coverage should I get? Also, I see most recommend an umbrella insurance policy as well, how much coverage should that be and what companies do you recommend for that?

Any tips or recommendations are much appreciated, thank you!

Hi all,

I am in escrow on my first investment property in Bedford, Ohio. It's a duplex. I am looking for a reputable property management company who will service that area. Recommendations would be greatly appreciated!

Thank you all, this is great information!

Hi All,

I have been pre-approved for my first investment property. I have set up a weekend with a real estate agent in Cleveland to look at some small multifamily properties (2-4 units) and hopefully I will find something I like. Some have mentioned setting up an LLC. Is this necessary for my first property while I get my feet wet investing in rental properties? If so, do I have time to do so within the next month and would that change my letter of pre approval situation? If I buy now under my name, can I later put it into an LLC? So many questions. I should also mention that I live in California. Any help would be appreciated.

Thank you everyone for your responses. It seems a different agent from Chase was able to approve me.