All Forum Posts by: Joel Brown

Yes was the rent raised to $750 or raised by $750 on the 4 plea they sold?

My Berkshire Hathaway quote has the 1,000,000 occurrence, 2,000,000 aggregate limit but looks like it is 80% coverage for $1k a year

I’m a farm bureau member but the guy closest to the house (about a quarter mike away) didn’t want to write a policy mainly because I got to Good of a deal on it and so it looks underpriced ??? I’m confused but what do I know. 

Does anybody get the general liability policy as well or just use an LLC or umbrella policy?

I think I’m getting a bargain in 38117 zip code but everyone assumes it must be in the hood cause it’s a deal!

@Caleb Heimsoth thanks I thought it was quite high. Any recommendations for an insurance agent in the Memphis area?

I'm waiting on a second quote for property insurance, I close on in a week. It is in zip code 38117 a 3/2 , 1025 sq feet. I am paying $55K, value ~$75-80K, insured replacement value $100K.

My quote was $1009/year or $84 /month. I have $400K houses in Southern Utah with pools and 10 years old and I pay $60-70/month with all the bells and whistles.

Memphis investors is this a really high quote or as that the norm. Any agents and insurance agencies you would recommend? I want to insure it right but affordably.

I'm waiting on a second quote for property insurance, I close on in a week. It is in zip code 38117 a 3/2 , 1025 sq feet. I am paying $55K, value ~$75-80K, insured replacement value $100K. 

My quote was $1009/year or $84 /month. I have $400K houses in Southern Utah with pools and 10 years old and I pay $60-70/month with all the bells and whistles.

Memphis investors is this a really high quote or as that the norm. Any agents and insurance agencies you would recommend? I want to insure it right but affordably.

Lots of great agents in Utah County. I’ve purchased 3 investment condos in Provo in the last couple of years with the help of Kim Brown ( with Bill Brown realty) he has made my work minimal. He owns duplexes and other rentals. Another investor friendly agent is Raquel Jex.

If you invest in Provo right now you will likely have a bad experience. It will possibly appreciate but I would go with a more sure bet. My son and I bought and read “Long distance real estate investing” @David Greene and have a place under contract in Memphis TN. $55k for a 3/2 with current rent of $750 1 year lease in a B- neighborhood in my view is better than $200 a square foot for a 1930’s place in Provo Orem right now. Just my perspective not absolute. I visited Memphis for the world championships of BBQ and met contacts that we are now using. If you want to talk shop my son is at BYU in the business strategy program @Derek  

@Derek Brown. 

It’s a great idea to go into investing with your father and learn along the way. I second the hoa thing as that can’t help open doors at times. My son is at BYU and he is my investing partner as well. We have 2 BYU condos, 2 St. George houses, and we have a property under contract in Memphis that he is involved heavily with as he knows the area and people. The more you can learn about it, the more you can completely do your own deal. Money  ( or lack of) makes it tougher. I think it is really hard to cash flow anything in Utah County. Prices too high rent too low and too much competition. You may get appreciation but likely not cover mortgage in rent. I’m sure there are some opportunities but it would be tough even doing a huge value add.

Thanks, although clear as mud!