All Forum Posts by: Joe L.

Hello all - I am part of a non-profit organization that owns vacant land in the state of PA. Does anyone have any recommendations on insurance companies who can underwrite something like this? I called the major providers (ie GEICOs, State Farm, etc.), but unfortunately they either only underwrite homeowners or the land needs to have a physical dwelling. I tried Googling for some companies, but I'm not sure I can trust some of the initial search results. 

Any help will be greatly appreciated!

@Andrea Lane and @David M. thank you very much! I'll make sure to check out the suggested previous threads. 

I'm a rookie investor looking to purchase my 1st investment property. My realtor suggested to create an LLC and purchase the property so that you are not personally liable for any potential lawsuits. I did some internet research and had a few questions:

1) Do you suggest creating an LLC on your own or get legal advice. This would be for the state of NJ. If legal, any recommendations?

2) How difficult is it REALLY to get a mortgage through an LLC? A lot of things I've been reading seems like a mix review. Some of the things I read have said it's absolutely possible, but it comes with a cost - higher interest rates, etc. The other things I've read offered an alternative with buying the property under your name and then transferring it the LLC (but realize your mortgage provider may not allow this without fully pre-paying)

Thanks in advance!