All Forum Posts by: Jeff Zhou

@Rob L. just to compare, would you mind telling the premium amount for that $850K reconstruction property? I received a quote from Liberty Mutual and their rate is outrageous - $6500 per year for my property ($1.2M reconstruction)

@Giovanni Isaksen Thanks for the tip! I've tried these ways but unfortunately in this particular case the record is only available in the record bureau in the form of hard copies. I guess in less developed places people have not started turning things into electronic version and putting them on Internet!

thanks for the answer Wayne!

Long story short, I was curious about a housing court case against the owner of the property I am buying, called the attorney, and figured that the property has "many" (according to the attorney) open violations. I already signed P&S and is in the middle of getting the mortgage. I told my realtor and she was surprised, but she asked me to get the violations from the city first. She said there was nothing on the deed but it could be because the violations were filled recently (in June this year). I went to the Record Bureau and they closed at 3pm, and the earliest I can get the record is next Tuesday. I'll talk to my realtor again to see if she has any suggestions.

Is this kind of issue common? Any advice?

@Ann Bellamy Thanks for the info! I'll definitely reach out to Tim. BTW we briefly talked last time on the Waltham Black Diamond meeting. The meeting was amazing and the amount of information and networking was great. Hope to see you next time in Worcester or Waltham.

@Josh Mitchell Wow that seems like a convenient formula! I am well aware of the 70%, 50%, and 1 and 2 percent rule, but not this one! Good to know.

@Rob L. I'll definitely use them as a reference.

@Adam Carbone Thanks!

I have been trying to get quote for insurance for a 4 unit multi-family investment property in central MA area for a few days, and did not have any luck so far. I called a few insurance companies and none of them insure properties with reconstruction values more than $600,000 (the cost they estimate). My current insurance agent I insured my home with also could not find any carriers they do business with that are willing to insure this property. I read previous posts about insurance but they are mostly for different areas of US and I don't know if their answers will apply. Also, I do not know if I'd better go with a regional or big insurance company. Can you guys provide some pointers? Thanks.

@Dmitriy Fomichenko thanks!

@Brandon Turner I am one of the million (if I remember correctly) who absolutely love you and the show you cohost. Glad to join.

@Ali Boone pleasure to meet you too! Completely agree that life is more than investing. I make financial independency a goal but I try to stay conscious that it should be more of a tool instead of the goal.

@Paul Timmins I did in fact bought the two books you mentioned. I am half way through the rehab estimating book but most likely will keep the book as a reference for cost estimate. Thanks for the other resources you listed.

@Shaun Reilly Thanks for the great advices, especially the information about local meetings. I'll definitely check them out.