All Forum Posts by: Miki M.

I guess the site is pretty dead at this point? Or is my question not valuable enough for you guys. I am a bit disappointed here.

M.

Dear BP,

I am in the process of purchasing my 3rd investment SFR, and I am starting to experience some problems finding good landlord insurance deals. The quotes I am receiving feel kind of rigid, the appear expensive compared to the price and age of the actual home (I purchase relatively young properties, max 20 years old). In addition, when I use "independent insurance agents", they amend a yearly service fee which I find kind of steep for just 15 minutes of clicking on a computer KB; to be specific, around $150 extra is added to my bottom line... This makes it difficult for me to actually make any money from my modest investments, after mortgage and the tax expenses which have grown substantially in recent years. So my deal is a bit sour. A lot of management work, and no income!...

So I like to ask the following questions to the much more experienced Gurus of Real Estate Investing who participate daily on BP:

1. INSURANCE OPTIONS / RECOMMENDATIONS: Would you be willing to support the newbie, and suggest some decent insurance options suitable for investors, which would make more financial sense, and have reasonable deductibles + coverages, and no fees or low fees to setup? By the way, I am located in Cypress, Houston metro area, Texas.

2. COMMERCIAL OR BUSINESS POLICIES: I have setup my LLC already; since I now have a few investment properties in it, there must be a "commercial" or "business" insurance option I can consider for my rental real estate? I imagine if I can setup a single policy covering all of my existing rentals, and just add other future investments to that same policy. That would be really GREAT- hope such options exist. I searched BP forums and couldn't find references.

I'd like to say one thing in advance: I much prefer recommendations from the investors themselves, and please do not drown me in solicitations from actual insurance agents disguised as investors. It is a conflict of interest... right?

Thanks in advance for your help. Please provide info and contacts, so I can get in touch.

Regards,
Miki M.

Ok sorry. When I copied / pasted the company name you from your posting above into a chrome browser, it went directly to a website in Tampa. Any chance you can provide a correct URL? Maybe it is .net or .org instead of .com? Thanks.

Originally posted by @Abhilash Joseph:

Try stressfreeproperty solutions, I think you will get a good pricing from them. I have used them only  once but I think they are transparent with less smoke screens.

You are telling me to use a company in Tampa area, Florida? You didn't read the thread's title? Or is this spam...

Hi all, I searched for info on the site but was not able to find existing threads, so I am starting a new one.

I recently purchased a foreclosure in Cypress / Tomball area (Northwest Houston / Harris County). Not surprisingly, the previous owner was still living in there. Don't ask me about the eviction process, I think you all know it is not a pleasant one. When I finally gained access to the home... My goodness. Dirty and totally trashed.

Not a problem. I will fix it.

I wanted to ask those of you with a lot of experience.. Can you pls recommend a reasonably priced service in Houston that can take the heavy pieces of trash away?

Many thanks!

Welcome to BP! :)

Any other input?

@Mark Nolan, thanks for the welcome note - appreciate it. I am honored to be part of this smart community of investors. If you have some input with regards to the Vacation Rentals topic, please kindly share.

Thanks-
Miki

Hi @Jeremy Baker,

Thank you for taking the time to respond- the input you provided is very valuable. I have to ponder a bit and I will let you know if I have any additional questions. 

Mahalo nui loa-

Miki

Hi BP!

I have a strong interest in owning & operating vacation rental property(ies) in Hawaii... in Kailua-Kona / Hawai'i County, to be more specific. I have a few question to other BP members who have experience with VRs. In addition to sharing your competent opinions and experiences, it would be awesome to add also some links to useful information available online on the given topic.

1) What are the good and bad aspects of owning a vacation rental in Hawaii? Anything you would like to warn me about?

2) I reside in Texas, so I will be an absentee VR owner. Are you aware of the specific requirements for absentee owners? For example, I can think of... hiring a local property manager? Business license or tax related documents? Etc? 

3) Would you recommend registering a company for this type of real estate property? Should I purchase the VR under an LLC? Or as a private person? Which is better, and why- what are the differences in the two approaches?

4) Any other tips and links that you would like to share on the topic? For example, some tax-related info / tips can be very useful. Many thanks in advance for your time and thorough responses!

Best regards, M.