All Forum Posts by: Kuba Bednarz

@Nadir M. Be patient. Make sure that your price is in line, but considering time of the year don’t make rush decisions, and definitely don’t give in taking on a renter who does not meet your criteria. If you won’t see any traffic in the next couple of weeks, consider an open house or adjust your price.

Good luck!

@Mark Gallagher thanks for your feedback

I am curious to learn how others approach the major systems at the property when buying one for a long term rental.

I recently bought a 1979 home, which I knew will need a possible foundation adjustment, roof and HVAC. I decided to do a replumb as well, since it has old galvanized piping. I am planning to hold the property for at least 15 years, so I feel it makes sense.

On one hand, the property will be like new, but I wonder if you’d address all issues at once knowing that even if there is any life left in some of the systems it will give up on you any day?

@Wale Lawal If you don’t mind sending me your agent’s contact, I will gladly give them a call. Thank you for all your help so far!

@John Mocker thanks for the breakdown of the types of policies. This is very helpful.

@Tony Wilcox thanks

Hello BP Community,

I am about to close on a single family property that will need a bit of work before it is ready to be rented: foundation, roof, some electrical, cosmetics including drywall, painting, floors etc. It is my first rehab, and I was caught by a surprise that I can’t get just a standard rental property insurance policy, as rehab is considered too big of a risk. I believe I need to get what a Builder’s Risk insurance, but it seems it only insures the materials not the dwelling.

I hope to get some feedback and what is the best thing to do to ensure proper insurance is in place during the rehab phase that protects the home in case of an unfortunate event. I estimate time to rehab between 2 and 3 months, and property is just outside of Houston, TX.

Thanks in advance.

@Adam Wrobel Board the train and enjoy the ride! I am focused on SFRs buy and hold with a couple properties looking to add to portfolio. Checking on MLS and off market properties.

Let me know if you want to chat, always looking to connect