All Forum Posts by: Jason T.

Going to a company that specializes in investment property is a good way to go too. By specialize I mean about 90% of their business is investment property insurance. Also, the owners and sales people have investment properties of their own :)

Have a local company clean the ducts. They can do a heavy duty clean and deodorizer. That will take care of the air once you Killz everything and replace the carpet.

What do you insurable? Everything is insurable, it's just a matter of how much you're willing to pay and what coverages you need.

Escrow is not an issue. We bill the mortgage company for the annual premium on that house and then use that toward your monthly invoice total. Basically we'd just allocate a certain amount of your escrow to your monthly invoice. We insure thousands of properties this way. You see a monthly invoice with all of your properties but the bank only sees one invoice for the property they have a mortgage on.

Thanks for the love Steve!

Tim - We are all part of the same family of companies. We've been able to develop programs specifically designed for RE investing.[SOLICITATION REMOVED]

That really depends on how you feel about the thought of walking away. It probably makes more financial sense to do so, without knowing the details that is. But it's not an easy thing to do. Good luck on your decision and whatever happens next.

DEAD WRONG was a little strong don't you think :) I've never talked to a bank that would consider it but that was a couple of years ago and I haven't talked to every bank out there. Good to hear it's possible.

Voted, good luck!

Lenders will not accept a short sale unless she's behind on payments. From my experience it has to be several months before they'll entertain a short sale. I tried to help someone negotiate a short sale that wasn't behind on payments and they refused to look at it.

If the monthly payments are low enough that you can cashflow it you could do a contract for deed. She can sell you the property and you just take over her payments. Don't worry about the due on sale clause because a bank is not going to call the note due in full if the payments are being made.

That didn't take you long to go full-time! Most people take years before they're able to quit the day job. Good luck!