All Forum Posts by: Ryan Watson

well, looks like ill just form an LLC for liability protection and not worry about paying for insurance. seems like the easy route.

that is pretty common practice for property holdings isnt it?

thanks jon.

so far the best i can find, i had 2 agents mention to insure the land with one of my vehicle polices. why do they keep saying this? i want it seperate. ive wasted 3 days waiting on a straight answer and still keep getting a run around.

also, google is not telling me anything. i need some more insurance companies to call and get quotes from. i dont like waiting around on one company's phone call.

im looking at putting the lot in my name. its about 10,000sq ft. 

so far ive called farm bureau insurance and got fed a huge line of bs. at first the guy tried to say i needed builders risk insurance when he found out i plan to build my own place. forgetting the fact i said i wanted to just buy and hold at first.

then he said i should get renters insurance with the same company i have vehicles insured under. then add the property to that. no way in hell that is happening. i dont want all my eggs in one basket. an answer like that is an insult to my intelligence. he cut the crap when i said i could just put it in an LLC and cut insurance completely out of the picture. finially he told me they didnt have a product for that, then gave me that idiotic advice.

im still waiting on a phone call from farmers insurance. i dont know why this is such a hard question to answer? it should be much more straight forward then this.

just getting the water to shed away from the house would go a long way. you might get some of those corrugated downspout extensions to help get the water away. Get the long black ones that look like pipe. The green ones are junk.

if you want some brownie points with your locality, send the gutter water to a rain garden

I was wondering if someone can recommend a good insurance company for vacant land? 

Is there much difference in the policy if i was to remove trees to help mitigate risks?

How much per year does a policy usually run?

On a different note. I heard of an instance where there was a church that bought up several plots of land. it consisted of a building and 3 houses. When you google earthed it, there was poison ivy that engulfed the entire house and growing into the 2nd story window that had been busted out. all of this was about 3 years prior to the demolition. it would be interesting to have seen it before they started demolition.

Needless to say, 2 houses were torn down. 1 saved. the new church now has some extra land on both sides. it cleaned up nice.

The city really does their best with publications though, you can lead a horse to water but you cant always make it drink. Same goes with blight property. To each their own. It sure does open up a nice development opportunity. You just need to brain storm. Perhaps that 1 development that is a hit, will bring people back into the houses. No matter where at.

i think this wouldnt be such a problem if there were no redemption periods on tax sales.

also it would be nice if they would push these properties for their starting bid cost, and get people to understand you dont need a broker or someone in the way of your deal to trump up a 2000 dollar property to 30k.

nobody knows you can get a cheap property, then the city moves through real fast to tear down a house. its a little ridiculous. i seen it happen in an area that it didnt need to happen in. however they just treated it just like a getto, tore the tax delinquent house down anyway.

This sounds absurd. I cant believe we have such pathetic morons on the council in my city. Apparently they need a refresher course on "free enterprise". I was just sitting here thinking we got too many democrats in this city, then i come across this thread. go figure.

God forbid you have to ask a plumber to break ground on your property. I'm starting to notice a trend with these plumbers. I got an estimate from a plumber one time on a family members house. The problem was very simple. It was PVC to the street, connected to a cast iron Tee under the house, which tied into the original bathroom and ran on up to the roof vent, then a pvc run had extended to a second bathroom from the Tee. Well all this started to work loose and leak a little.

So along comes the plumber. He goes down in the crawl space and starts looking, i tell him the problem, then he proceeds to say "this stuff shouldn't even be down here". Given my excavating background I had shut him down immediately. I cut him off as he started his rant and told him he was not digging this line up all the way to the street, as the sewer was put in around the 1970's. Then when he got to the street he would discover that the main line isnt even up to code either. It was that cheap thin wall ribbed PVC crap that they use on riser pipe for valve access. Then I reminded him it all worked every day without fail, and if anyone was digging up the yard it was going to be me. He shut his mouth after that, and I got my simple estimate for about 200 bucks roughly. Instead of it being 4 or 5 figures.

I wasnt done with this guy yet. I proceeded to ask him about some big sewers since he seems to know it all. I started to talk about a big interceptor project that happened a while back. How they had to use 3 excavators to make a 50' cut to lay 84" pipe. Something like that is very questionable if he can fallow it or not, but he did his best. When he was leaving that day, I shook his hand saying good bye. If looks could kill! LOL hahaha. He barked up the wrong tree that day.

I wonder if these plumbers are coming up with these insane numbers to make a nice foreclosable debt to the property if the opportunity arises? If someone signs for a $10,000 estimate and doesnt pay, it would be above the threshold of the small claims court, and probably just enough to allow a judicial foreclosure to happen? I dont know for a fact, im just thinking out loud here?