All Forum Posts by: Mak K.

Quote from @Scott Bloom:

You can get a commercial grade policy from major carriers where they lump the risk across multiple properties into one policy, reducing your premiums.  One challenge to manage is being able to clarify for lenders on those rentals (if you have them) which amount of the premium should be paid for each rental so that they do not include the entire premium into their escrow analysis, inflating your monthly payment on that rental. 

Do you have recommendation on Agent who can do this? Most of the carriers or agents keep saying SFH cant be added as group.

One insurance claim and it will pay for all the premium you paid in last 10 years most likely.

Commercial liability will only cover liabilities like lawsuits right? It wont cover wind hail fire or water damages etc? Are you saying you only have liability and NO Landlord policy?

I am from Texas. When application was made tenant was I am not going to to have my puppy with me so do not need pet fee or application etc.

First month and I find a dog in the house which is 50lb. Now she claims it’s a service dog because his husband is vet and she should be legally allowed to keep the dog and does not need pet fee or pet deposit or monthly pet rent. 

She is arguing about the law. 

What does law say? If you allow service dog, you sure need to pay a deposit , application fee and monthly pet rent correct? How do I deal with her and is it a lease violation? I would be glad to kick her out if she doesn’t follow lease and lies

I am doing my homework and research. I have a opportunity to have a 1 AC lot ( Current price, $190K) in Houston area. I was wondering how should I do high level estimate on cost of construction for homes. Plan is to develop and sell the homes. Usually how many average starter homes 1800 SF - 2000 SF homes can you develop after driveways etc. Also would love to know from other members how much they spent on the last project and what is a good contigency to put on the final cost for a first timer.

Hi,

I am active real estate investor. I am also a realtor which has helped me in the sense it makes it easy to see houses. I do qualify for being a broker which comes with some additional education etc.  I am not interested in actively as realtor to help home buyers but may look into helping investors for buy/sell/lease.

I wanted to hear from you all who were brokers, did it add value? Did you get a advantage and how did it helped. Sometimes I do understand in day to day you do not get advantage, but there is always few instances where you may have felt it just was worth and paid for it to have a broker license.

Doing few roof for single family homes in Houston. Are $300/squares for GAF HDZ good rates. Homes are double story standard homes with around 21-24 Squares. Are $300/Square competitive rates for GAF HDZ. Trying to get market rates. It's my first time for the roof. I understand there are other factors such as pitch etc. but i am trying to get ballpark range. 

Hi,

I did a new roof on a rental property. I am from Texas/Houston. The roofer gave me a invoice with high level bill of material, and a statement that it has 2 years of warranty and brand name of the shingles.

It does not say brand name warranty or model or batch number etc. 

Question What does a roofer invoice consist of? And the GAF shingles comes with 25yr warranty. Do they provide any paperwork or registration etc? Is Shingles warranty worth it or next to impossible to claim it?

If you near retirement, I would just save in stocks and enjoy the dividend while keeping the nest principle.

after certain age, decision making is difficult so stocks easy to manage. Also no hassling with tenant , insurance or calls

Quote from @Srinivas Reddy:

Hi All,

I'm totally new to this so bear with me (acronyms!). We own 2 homes - we live in one and rent the other. We plan to sell the rental home which is valued at $1.8m - $2m. We plan to sell our current house and net $500,000 in proceeds which will help payoff the mortgage on that rental. We figure we will have roughly $2m to make a 1031 exchange so we can sort of live off of it because we are nearing retirement. We don't mind living in a nice apartment!

Is it possible to invest our nest egg (no other income source other than social security and a little bit of 401K) in a safe manner so as to fetch between $10,000 to $20,000 a month. Just throwing numbers out there! A friend of mine suggested investing in a warehouse but that didn't work out.

Any info or ideas are appreciated. We plan to move to LA to be closer to family.

If I am not wrong, per couple $500k is tax free on capital gains on primary homestead home. Since it’s tax free, I would not put it in 1031 exchange. Just sell the rentals and from the purchase price, first mortgage gets paid and difference will stay in 1031.

to me it does not make sense to pay off mortgage on rental and then sell it.

in the end, no matter how you do the transaction, you will have same amount of money left. So just keep both transaction seperate