All Forum Posts by: Corey Knight

Hi Everyone,

I need your help on insurance coverage on single family rental homes. We are buying a package of 5 homes. (We are not living in any of them) For insurance, agents are telling us its a better route to just up the insurance on each house vs getting a separate umbrella policy policy to cover the LLC we created. Should we do that or maybe even get both higher insurance and an umbrella? As a side note each partner also has their own personal umbrella policy. Thanks in advance!

What is the best way to set up a partnership to protect each other. The situation: brother and I want to buy homes together. Just starting out. Buying s single family house package. I want to make sure his family and my family stay protected. Specially his family can’t get my percentage or vice versa. I don’t know the exact way to do this. Set up a separate llc? Get one together that has an operating agreement.

Quick scenario. What happens if one of the owners that owns 50 percent gets divorced and the spouse wants 50 percent of their share? How do I stay out of this and protect my family and what else happens? Any info would be great.

Thanks