All Forum Posts by: Hannah Stern

Hi and thanks for reading. 

I've inherited property in Park Slope, Brooklyn via a trust. Unfortunately, the person who left it to me had Alzheimer's and the property insurance lapsed. I have an application for new insurance, but I don't know what best practice is for covering a multifamily brownstone in Brooklyn. I would really appreciate it if anyone who knows much about insurance or managing a property would cast their eyes over the screenshots below and let me know: 

1. Does that provide the general level of cover I would need for a mutlifamily? Am I missing anything? Am I over-covered for anything? 

2. What additional questions would you ask of the broker? Do you have clarifying questions that you wish you had learned to ask years ago?

Again, many thanks for your time!!

Quote from @Melanie Thomas:

Surevestor is definitely worth considering. Good luck & happy investing!

 Oh thanks so much for the lead! I've never heard of this.

Quote from @Michael Calvey:

Have you explored Steadily for insurance for your properties?

 I've never heard of this before. Thanks so much for the recommendation!

Quote from @Les Jean-Pierre:

Would be interested to hear of a good one too. I defeated my old insurance company on a claim and they dropped me.  

So frustrating, right?!

Quote from @Abel Curiel:

Quote from @Hannah Stern:

Hi folks, I have an absolutely horrible insurance company I've inherited along with the property. It's unacceptable. Is there a company anyone on here would recommend, please??

Many thanks!

 Hello Hannah,

I have some recommendations, just need a bit more information to make sure they're a good fit.

What kind of property is this? Where is it located?

Hi, and thanks for the response. It’s a multi family brownstone in park slope so it was built in the 1800’s, renovated in the 1980’s, and kept up to code ever since. Flooding is the only issue we have, and that’s every other year or so. Smoke detectors in each apartment and a sprinkler system.

Hi folks, I have an absolutely horrible insurance company I've inherited along with the property. It's unacceptable. Is there a company anyone on here would recommend, please??

Many thanks!

@Don Konipol It's in Dublin, Ireland. 

Hi folks,

There's a property near me that's been on the market for ages, probably because the price is VERY high for the area. I've been thinking about approaching the owner for a possible rent-to-rent (or r2r, let-to-let, etc in Europe). The property is an old Christian Brother's home, so it's a bit of a warren and could be good for AirBNBs or short term lettings. The area I'm in is in high demand, so I don't think it'll be terribly difficult getting renters. 

What I CAN'T find is a copy of a rent2rent contract. Maybe because this type of transaction is so new? Can anyone point me in the direction of a free PDF or template? I would really appreciate it. I'd like to have a few of my ducks in a row before I approach them. 

Thanks so much! 

Hi folks, does anyone know if the UK or Ireland has an equivalent of the 1031? I can't seem to find any information on it.

Thanks in advance!

Hannah 

@Dave Foster 

"1. get a mentor if you're not experienced to help you run a real time analysis on that property's performance. You'll be comparing that with other opportunities so you must understand what you have."

Ok... not to sound stupid but where do I find that person? I have a property manager; would that be a good start? Is there a forum on here for mentors? 

Thank you!