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All Forum Posts by: Mak K.

Mak K. has started 93 posts and replied 213 times.

I have a rental property which was my primary and now I will be renting. I had no claims. But since its Houston and Harris county, the rates I am getting are $5K- $6 which makes it not feasible to rent and impacts cash flow big time. How do I deal with the high landlord insurance.  The property is paid off free and clear.

Quote from @Corby Goade:

What's the point of having the property in your name if you don't live there and there's no loan? 


 I thought if you sell your poperty within 3-5 years (verify) of your stay, you get capital gains tax benefit. Also doing change of deed void the title insurance also. I may change it in future but for now, all I am trying is to get a tenant onboard at this moment as I just moved.

Quote from @Corby Goade:

This is a much more complicated subject than just quit claiming a property. Depending upon how your books, insurance and loan are set up, you may or may not be achieving the thing you want to achieve. I'd invest in a consult with your attorney. 

 House is paid off so no mortgage or bank loans. I prefer to still keep the house on my name for next 3-4 years so no quit claim or deed changes.

I read somewhere you can do a lease between OWNER - LLC company. AND then the LLC can do lease with tenants

I have rentals under LLCs. For this property which is under my personal name, what should I put under the contract. The home is under my name. I try to avoid as much as possible to put my name. I do have a spare LLC which I can use to collect rent. Is it ok if I use a LLC as the landlord to put it under the lease? The deed is under my name.

House is paid off so no mortgage or bank loans.  I prefer to still keep the house on my name for next 3-4 years so no quit claim or deed changes.

I read somewhere you can do a lease between OWNER - LLC company. AND then the LLC can do lease with tenants

Quote from @Owen Rosen:

What type of properties?  1-4 unit or 5+ units?


9 SFH properties. Single Family. No Morgage. All paid and clear. year 1990+ & all has new roof installed 2022 to 2025

Hi I have properties on all across Houston TX/ Harris county and all have roof replaced. I am having hard time getting insurance quotes. One company even quoted me $42,000/year premium. All properties are less than 20year old so pretty new condition.

Most of the agents comes back saying their carriers are not quoting in Harris County. I guess no matter where I go, either answer is NO or its 2-3 specific carriers quoting. 

How are you investors in Houston TX dealing with this issue? Does it make sense to a point to become self insured and just carry liabilities.  

I am from Houston, TX and decided to build a home on a lot and rent it or sell it. I have enough experience renting / Mgmt.

I am having issues finding the right lot / location. Either the lot are cheap but, in an area, where it's all run down homes or too expensive. My goal is to build a budget starter home to get a feel of the process.

There are few towns in Houston Surrounding where I can get some lots but not sure how is the market in small towns for renting/sales. 

Anybody from Houston area who can guide me some locations to look into? Or any tips or advice? I want to keep it as low as I can as my budget is starter homes.

Post: Landlord insurance for multiple properties

Mak K.Posted
  • Posts 214
  • Votes 31
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.

Post: Self insured rental prop

Mak K.Posted
  • Posts 214
  • Votes 31

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?