All Forum Posts by: Jason Morris

What's the difference between that and not requiring renters insurance? it sounds like in both cases, someone (the tenants / their insurance company) ends up suing me/my insurance company.

Won't my tenants' renters insurance company just go after me/my insurance?

Example: Tenant experiences a loss due to some house issue. Let's say that a pipe bursts and destroys their laptop. Or they trip and fall because the snow wasn't cleared on time. They sue their renters insurance, which approves their claim and furnishes some money. But now the renters insurance sues me.

In real estate and business in general, you need to be ambitious and be street smart, not book smart.

I have an MBA. No advantage. As others mentions, unless you go into corporate where an MBA is the foot in the door you may need for some positions.

You can pick everything an MBA program teaches you from YouTube. And 99% of it is academia nonsense. I personally think that in the near future even colleges will be outdated. Very few things I got out of an expensive 4-year college that I actually use day-to-day.

Looks like my first step then is to speak to a mortgage lender about next steps. Thanks, Cooper.

I'm planning to build a second house on my property to be used as a long-term rental. For liability etc, I'd like to create an LLC that will own the house.

Do I need to first subdivide my property in order for the LLC to assume ownership of it? or can I keep the entire plot, build the house, and then transfer it to the LLC without subdividing?

Also, in general, any reason to subdivide prior to building other than the LLC piece?