All Forum Posts by: NaTarrio Jones

@Scott Smith Thanks. Will do.

@Scott Smith Thank you for such a detailed response. I will be looking into setting up series LLCs in the future. Also I will be needing an attorney to further discuss this with, preferrably someone in the Houston area.

@Jim Cummings That is the path I plan to take. Thanks again.

@Jim Cummings   Great responses.  Thanks again.  I do not recall anyone ever mentioning the Title insurance when transferring property from personal to entity or vice versa. Definitely something to consider.   

I don’t own in any war zones.  I typically target B & C class properties but I totally agree that due diligence in tenant screening, maintenance and fast response to issues is definitely a key  aspect. 

@Ross Kerne  Awesome.  When I spoke with my insurance agent he was not certain if that was doable.

@Stephen Witkowski  Thanks.  I will definitely check it out.

Thanks at @Jason D.. That makes perfect sense. An umbrella would be great for liability protection whether it is in an LLC or not.

  Thanks @Ross Kerne. That's similar to the situation I will be in. I do have an LLC but I wasn't planning on purchasing any property in the entity until I reach my mortgage limit in my personal name or unless i purchase a commercial property. So do you have 1 umbrella policy that covers you for all your property, even in multiple states?

@Jim Cummings Thanks for your input. I now understand that the umbrella covers me if my liability coverage limits on my home owner's are exceeded. But From an investment strategy stand point does it make sense to purchase property in my personal name (with an umbrella policy) giving me access to conventional financing rather than purchasing with an LLC and having to use commercial financing? Is there added risk? And if so is it worth the reward of more favorable terms on financing?

Hello BP.  I have 3 units (Texas) in my personal name and I have a four unit (Louisiana) under contract also in my personal name.  I do have an LLC but my intent is to max out my conventional loans before I begin to purchase with LLC. I came across an older post in which you mentioned you had an umbrella policy to cover your properties therefore not needed to purchase in LLC for assest protection.  Is this an effective stategy.  What would you recommend in my situation?  Do you purchase 1 umbrella policy that covers all your properties? If so do they all have to be in the same state? If you can point me in the right direction it will be much appreciated it. Thanks