All Forum Posts by: Mio Chee

Has your household situation change over the last years (minor started driving, etc.)? This could greatly affect your premium. My husband is a property and casualty insurance agent who also sells umbrella policies. The latest quote we got for 5M was $1k/yr, so in my opinion, $500 for 1M is pretty expensive. If you own 22 units, I would actually increase to 5M instead of 1M depending on how much equity you have.  

Aloha Katrina,

I am from Oahu, Hawaii and I would speak with several agents before narrowing down and committing to one agent. That's what I did when I was looking to buy (not sell in my case) rentals a few years ago. I think a leasehold on beachfront may not be the most desirable property for some buyers due to the sea level rise (it is getting really serious and affecting many properties) and the fact that there is only 12 years left on the land lease. With that said, you may want to speak with Loren Graham at Graham Property. I only have attended his seminar, but I was impressed with his knowledge on leasehold properties on Oahu. If you decide to reach out, please mention my name. It may help smooth the conversation (and agents always love referrals). 

https://www.grahampropertiesha...

Not sure if my PM manages multi family and/or small apartment but I use ES Property Management in IN and am pleased with them. 

I have a property in Avon, IN (a about 1 1/2 hour drive from Richmond, I believe) and I use ES Property Management Company. Not sure if they manage in RIchmond, but it may be worth reaching out. They were rated No.1 PM company in IN last year. If you reach out to them, please mention my name. 

ES PM

https://www.indianapolisproper...

Patricia, my husband is an insurance agent in Hawaii (he can only sell here in Hawaii), and he is aware of companies that sell umbrella only (you do not have to have auto, home, etc with them). I believe IRA is one of them. I am sorry if I am wrong, it has been a while since I last shopped around but it may be worth checking

Hi Benjamin, I am also from Honolulu, Hawaii and have been a long distance hands off landlord for more than 7 years now. I have been living here more than 20 years now. Initially, I was looking into buying a rental in Honolulu, but it was nearly impossible to find a cash flowing property that is in a good condition so Have you looked into turnkey? After giving up on Oahu, I decided to use a turn key company. I bought 3 thru them : TN, IN, and OK (all SFR). Planning to buy another one in FL next.

A litigation lawyer once told me that he can pierce the corporate vail 9 out of 10 times because many ppl structure their LLC in a wrong way and/or commingle funds. The turn key company I have been using for the last 7 years used to advise me to use LLC, but now they recommend people to buy umbrella policy instead (and hold your property under your name) because they also realized how easy it is to pierce the corporate vail.

I am from Hawaii where a median single family home is now 1 million, making it very hard to find a cash flowing property. We bought 3 properties (TN, IN, OK) thru a turnkey company and are very pleased with the process and the support we received from them. We plan to buy 6 more with them. Feel free to reach out if you interested in learning about this company. I can tell you all the pros and cons (not many cons but they do exist) we experienced with them

I am from Hawaii and just purchased a single family rental in IN last July using a company called Done For You Real Estate. We bought 3 using them so far and love the ease of process. Feel free to reach out to me if you are interested in learning about them. 

My husband and I purchased 3 properties through Done For You Real Estate. We bought our first one in 2014, another one in 2021, and the third one in 2022. The process was pretty smooth. We intend to buy a few more with them.