All Forum Posts by: Jason T.

As a small investor it doesn't make sense to go through the time to create and maintain a separate FB page. FB pages work best for gurus & vendors in the real estate business, not people who strictly invest. I would stay with your personal one and not worry about "unprofessional" content. Everyone know what FB is and doesn't expect it to be all business all the time.

Family, friends, and fools might give it to you for 5% but most private lenders will want more like 12-14% with points.

I agree with Kenneth. SFR are a pain in the ***. They can be good investments but you better have one hell of a management company or really like managing yourself. I would start with smaller multi families (4-8) then graduate to apartments after some success with those.

That's a long story, not one for a forum. In a nutshell, I was ready for something else. Plus, I was made an offer I couldn't refuse :D

I'm going to throw my hat into the ring. Check out Affinity Group Managment, [LINK REMOVED]. I work there but before working here I was a customer and used the insurance program for about 50 rehabs.

We have several policies we use; depending on the location, type of property (rehab, rental, vacant), and several other factors. I'm not familiar enough with each of them to answer this question. However, your client service rep should be able to answer that question specifically for your policy.

If you're talking about a complete re-build, yes it would be done up to current codes. On a partial loss you're safest to have ordinance or law coverage in your policy.

Disclaimer - I would not call myself the insurance guy. Yes, I do work for an insurance company but as of right now I am not licensed. I would say I know more than the average Joe but I'm no expert.

Proper protections starts with holding your properties in LLCs. From there you need adequate insurance coverage. Angie is pretty much right on as far as the order of policies kicking in. Renter's insurance will kick in first, followed by the property insurance, then umbrella. Liability insurance is generally cheap enough you definitely don't want to skimp on it and get caught on the hook!

FYI - I always require my tenants to carry renters insurance.

Investment properties are a much different animal than an owner occupied policy. Most insurance companies, especially the very large ones, do not adequately cater to the unique needs of an investor. I would suggest finding a company that works with investors primarily. There are programs out there to make sure that you don't have to worry about vacancy clauses and any number of items that can come up as an investment property.

Replacement cost is just what it sounds like. You get the funds to replace the structure with similar amenities (sq ft, etc) but with modern materials. Otherwise, what's the point of having insurance if you own a property free and clear?

We had a fire claim recently that wasn't a total loss but we had it insured for replacement cost and was able to get the repairs done much cheaper than insurance paid. Those are the best kind of claims!