All Forum Posts by: Bjorn Ahlblad

Thanks for the comments @GeraldGrinter and @ScottEgbert the concern may be in direct proportion to the equity one holds in their investments? 

In the last few days I have done quite a bit more digging with local investors and many carry EQ insurance.  One of the properties I own is a brick building and they do not shake well!

Victoria, Dave gave you the perfect advice. In addition if you are not a member of Washington Landlords you should consider that. Plenty of current legal and other topics there for REI. The meetings are informative and fun.

My barber gave me some great leads on commercial multi family and mixed retail properties in our town. 

I also found what appears to be at least one additional layer of commercial MLS. It would appear that the regular MLS, the one that goes to all the realtors, those deals are easily found and crowded. This other layer has listings of larger-50 plus units- but also 20 unit buildings, there are many non-residential listings in this layer-store fronts etc. I am still digging into that and how they are segregated-but there they are. Many are not for me-I am looking at residential buildings in the 10-30 unit size and have found some on this other MLS. So in a round about way I am saying to keep digging!

@ James K  I am giving you a standing ovation! This is such an outstanding and detailed example of how to create value and generate cash while improving your own asset-truly humbling. It gives many of us (me for sure) inspiration as to what is quite doable whether on your scale or smaller. In my own case I have the cash; but the re-fi is the 'proof', so I am thinking of doing the re-fi anyway (and paying it off early) it is an important step to demonstrating what a lender thinks of what has been done for the value of the property. Kudos.

I am a buy and hold investor here in the PNW. I just got quotes for Earthquake Insurance to cover my apartment building in Aberdeen and duplexes in Tumwater. Expensive, but without the income from these assets I'd have to go work at Walmart!

That has me wondering what others are doing to cover their income producing properties.

Can we get a discussion going; what are your thoughts and plans regarding Earthquake Insurance.

Where there is great risk there should be great reward...................how experienced are you? How much reserve cash will you have to overcome maintenance and vacancy issues. Will you self manage or hire a company? How good is the cash flow compared to other possibilities with less risk? Is it a FSBO? Do your homework-get all the facts out, talk to some tenants-one of my favorite sources of info. Hang out in the parking lot. Make sure it is what you are prepared to deal with. Lots of ways to get screwed in this business, and lots of opportunities for home runs!

Lots of tire kickers! I have felt like that seller-just make sure your bases are covered. Personally as a buyer I like that kind of a hurdle because it scares away the majority of potential buyers!

It seems some investors set up an LLC for each property. Our lawyer suggested grouping them by size so as to not have properties if disparate sizes in the same LLC. Make sure you carry ample liability insurance too and keep your personal stuff completely separate.

Looks like a solid deal! Keep us posted!

One of the reasons I joined Bigger Pockets was to have these discussions with like minded folks. Revealing to anyone, other than another investor, that you own an apartment building-well nothing good will come from that!