All Forum Posts by: Account Closed

Hey guys just looking for a little advice. My fix and flip LLC has been lucky enough to be all cash at this point. However I have recently come across a very good deal on a house I couldn't turn down but need to raise some capital to purchase it. I currently have 3 other Houses in progress that I own outright. I will be finishing one of these houses in the next few weeks and would like to obtain financing for it while its on the market. How easy/difficult would it be for my LLC to obtain short term financing so I can purchase this good deal while my other houses are on the market being renovated?

@Amy A. I completely agree with the wild west part. I often times feel like insurance agents in Maine are just not familiar enough for what I do to write me the correct policies I need. The same with us as we only hire outside independent contractors and then they will tell me that there guys are all independent contractors.  

@Harrison Smith Thanks! 

@Derek Lacy Thanks! I have found just a policy with foremost Insurance alone to be expensive. How expensive are these other policies? I thought an LLC was supposed to protect me not make me insurance poor!

Thanks @Andrew Ware. Good Luck with your endeavors

@Derek Lacy @Jason Bott, Thanks guys for getting back to me. I will say insurance is one of my biggest frustrations in the logistics of house flipping. I still can't believe there isn't a carrier willing to write a comprehensive policy for this side of real estate. In regards to the Business Liability policy what other things do these policy's usually cover?

As the subject says I was curious what insurance products flippers are carrying for there LLC? My insurance agent recently seemed appalled that we are not carrying a business liability policy. Generally with our flip properties we are insuring them with additional coverage that has a one million liability policy for injuries uninsured contractors etc etc. Do you find this to be enough or are you carrying additional insurance to protect yourself?

Hello everyone!! My name is Matthew and I am a 30 something investor from Maine. I have been working with my two partners now for about 3 years. In that time we have done 12 flips including our first commercial piece of real estate!! In the future we are hoping to expand our business as well as getting into other aspects of the biz (wholesales, Rentals) and hopefully going full time. I'm here to network and mine some advice from anyone I can.