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All Forum Posts by: Kashana R.

Kashana R. has started 2 posts and replied 6 times.

Post: Commercial Liability Policy

Kashana R.Posted
  • Hartford, CT
  • Posts 6
  • Votes 1

Hi @J Scott - I have worked in underwriting for professional liability / specialty lines and these days not a lot of insurance companies are writing business that have anything to do with real estate. I have seen law firms (who have a RE practice ) and property management companies get written right off the books because there have been so many claims over the past few years from these types of policies. RE is now considered a high hazard area of practice. You might have an easier time trying to do it in your own name but since you do have employees working under you (they may expose you to risk) it might not matter to the insurance company. You just have to shop around and be as specific as possible describing your role when you fill out the application. Most insurance companies who have a professional liability book of business use agents exclusively for new business. I have seen quite a few cases where we don't particularly want a certain policy but because the agent is a strong producer for us we will write that policy just because we don't want to jeopardize other business that may be coming in from that agent.

Thanks for everyone's responses. I think people use the terms private money and hard money interchangeably. HML say they are PML but in reality they are just HML. @Mike Bryant you are correct I just have to find those people! True "private money" is an obvious first choice, I just don't know anyone at the moment who has access to this type of cash. @J Scott your numbers are basically the same as what I have been seeing. @Mike H. bank loans can offer better terms but are too cumbersome and have too many stipulations and requirements. I'm going to keep looking and keep all options open at this stage...

Hey BP...I have noticed a few private lenders in my area offering minimum loan amounts, for example $80,000 min loan amount. They all require a down payment of at least 20% - with points of course. Just wondering what is considered "normal" these days (in terms of rates, points, loan amounts, etc) when it comes to private funding? What are some of the best deals you guys have seen out there for private funding? I'm interested in getting a loan to purchase and also for rehab costs, depending on how big the rehab is....

Post: New member from Avon CT. ( Hartford )

Kashana R.Posted
  • Hartford, CT
  • Posts 6
  • Votes 1

Hey @Drew Liljedahl welcome to BP! I am a new member from CT also...Maybe we can work together on a project....I see that you do high end stuff in Avon but maybe you also do a few side jobs? :)

Post: New Investor from CT

Kashana R.Posted
  • Hartford, CT
  • Posts 6
  • Votes 1

Hey guys thanks for the welcome messages! James - what I am looking to get into now is quick flips...no major rehabs but just a few properties that I can buy for cheap and fix up then sell. I want single families or even a duplex or 3 family that I can buy and fix within 60 days then put on the market. Any ideas or advice? My biggest obstacle is actually FINDING a good deal....

Post: New Investor from CT

Kashana R.Posted
  • Hartford, CT
  • Posts 6
  • Votes 1

Hi everyone! I’m a new investor looking to close my first deal soon. I have experience in real estate from working as a paralegal as well as a realtor, now it’s time for me to begin making my own investments. I have already found lots of useful info here on BP; hoping to learn and share here as I grow my business. Right now my focus is flips then I will start to buy and hold.