All Forum Posts by: Benjamin Jones

Great advice.  Thanks.

Thanks Jason. Just so I understand, in this scenario if the rehab cost were 50k (purch price - 25k) I would have to get something like a business owners risk policy for 75K for the 1st 60 - 90 days and then increase it to ARV upon completion.

Hello Tracy.  Like you in the beginning, I'm a bigger pockets lurker reading everything I come across in an effort to gain knowledge.  I'm very eager to do my first deal, but just haven't jumped into the fire yet.  I really want to start wholesaling so that I can build some capital to progress further in RE investing, but as you know the first deal is the hardest deal on all levels.  Any advise?    

When purchasing a property (as an LLC), since it may not be occupied for 3 - 6 months or so to rehab, what type of ins. is required? Do you ins. it for the existing value or after repair value? An agent advised that a reg. homeowners policy alone would not do She mentioned liability ins. as well. I'm sure there is some type of comprehensive coverage out there. Hypothetical:

Purchase a property for 25k that will require a pretty major rehab. ARV is 125k. Aside from ensuring that the contractor has the appropriate ins, what am I required to have during the rehab period.

Robert I like your advice about terminology. Just getting started in the wholesaling arena so I'll try that.  Have you had any wholesale success a little further north of you in the (Cenla) Alexandra area?

Thanks for the info Wanda. 

Thanks Branden.  Now the trick will be to find an investor friendly title company in the Central Louisiana (Cenla) area.  Thanks again.

Is real estate wholesaling via an assignment contract legal in Louisiana or do you have to take possession of the property and do a double closing?  Researching a few properties and want to understand my exit options before moving forward.