All Forum Posts by: Don Belsky

I had a house up for sale for a few months by a local agent. The for sale sign was stolen quite a few weeks ago. Today I got a phone call from my agent asking me to pay for the sign because it was lost or stolen from my property. Am I liable to pay the $150 that is asking for? Background: The house never sold. The agent is showing it now as a rental. This is the first time I'm using this agent.

Don't know anyone in your area. I hope you find the right one. Very tricky. Be concrete with payment and installment terms. Don't prepay for work that wasn't done yet. Good luck!

Hope you're doing well with your first one and maybe you're onto more now. Check with an independent agent that specializes in insuring flips. There are programs out there that are way more economical. I use Evergreen Insurance. www.trustevergreen.com. They have a very good program for flippers. Good luck!

I used to have multiple separate policies. But I'm a strong fan of a master policy now. Especially if you're growing this helps me streamline my process. I think you need an independent agent to set up a master. I use a firm called Evergreen Insurance and they set me up a master policy with online access to add & remove properties.

Your local realtor should be able to give you what's called a CMA (Comparative Market Analysis) and tell you his estimated ARV (After Repair Value). Keep in mind that you should always figure a lower # than his estimated ARV, as the nature of a broker is to hike up your expectations so that you wanna hire them to sell your house.....and then once it comes to actually listing it they'll find reasons why it should go for less...

First off, I welcome you and wish you lots of success!! 1- You gotta find a seasoned investor, rehabber, flipper, that you can trust 100%. Gotta have that one guy to fall back on at all times. 2- If you go the flipping route, don't invest more than 50k first before you make a return on that money. A fix and flip can go either way... So if you loose it all at least you can get back up again... 3- I have some friends from NY that invest in nearby NJ. They do fix & flips and buy & holds. Very lucrative deals. Jersey city being especially hot now as it's close by to NYC. Wishing you best of luck!!!

I would definitely pass. Especially since you'll be living in same house. She'll be complaining a lot... You don't want her as a tenant and definitely not as your neighbor...

In my opinion you gotta start out with a seasoned partner in your first deal.

I have for my own portfolio a Master Policy. I found it to be very cost effective and simplifying the entire process. I put all my 1-4 family rentals onto 1 big policy. They cover the homes during vacancies and construction as well as while occupied. The good part is also that with this program I can go online and add myself any new property I buy and with just a few clicks I'm covered. Also when I sell a property I go online and remove that specific property easily. My agent is from NY but they cover nationwide.

I received a call from ALE solutions that they would like to place a tenant - that suffered a fire at their primary residence - on for a six-month lease at my single-family rental property. Has anyone had any experience with this specific company or any of the temporary housing companies?