All Forum Posts by: Parker Cox

@Ellis Hammond A million dollar umbrella over and above current liability coverage is approximately $500/year depending on your assets, current coverage and company.  

When James mentioned the gaps, his structure was correct, an umbrella is excess or over and above (hence the umbrella moniker), but the gaps do not exist because you are required to have your underlying coverage at a certain threshold to purchase and keep in effect the umbrella.  

I would highly suggest that you get an umbrella.  The rule of thumb is to match your net worth with liability coverage, but even if your net worth is lower now than it will be someday, you can be sued and future earnings can be taken--portion of your paycheck for the next 10 years...etc very similar to alimony or child-support.  So, it is good to start at $1,000,000 and go from there as you grow.  

Best of luck and congrats on the purchase.

@Bich Pham Colin Lowry is an architect who has been exploding over the last year and has been doing some truly exceptional work.  

I can't post his contact details in comments so PM me for details if you are interested. 

@Solomon Rodgers Ryan Lipsey with Title 365 is the go to guy for the investor community in san diego

@Kevin Fox and I are happy to be announcing our latest network and learn onsite at an awesome project in North Park.

To RSVP and check out the photos--SDREI Event Page

UPCOMING EVENT

3-Unit BRRRR & 1031 Exchange in North Park

3826 Swift Avenue | 8/26/17 | 9-11 AM Come see how others are making REI work for them in San Diego’s challenging real estate market at our August Case Study. This month we will be coming together to network and discuss the inner-workings of an awesome 3-unit BRRRR deal in North Park, acquired via 1031 exchange.

This month’s co-host,Threshold Investments Inc, will be walking us through the ins and outs of this complex exchange. This sneak peak will shed light on how to maximize returns and mitigate roadblocks while investing in San Diego multi-unit properties. Making certain that no question is left unanswered; some of the key topics we will cover are:

• Evaluating Your Portfolio For Potential Exchange Opportunities
• Analyzing San Diego Rental Property
• Planning and Executing a BRRRR Strategy
• Using 2-4 Unit Properties to Quickly Grow Your Portfolio

As always, we will open things up for a ton of valuable networking with other local investors after discussing the deal.

If you have attended an event in the past, you will know that we have a strict “no pitch” policy that we firmly uphold (That means you, “guru!”)

Other than that, all we ask is that you try your best to show up on time and with a bunch of business cards! (and maybe a friend/colleague or two)

Hope to see you there!

@Kevin Fox and I are Excited to announce the upcoming meet and learn-- sorry for the short notice!!! But looking forward to seeing everyone Friday -Parker UPCOMING EVENT

3-Unit BRRRR & 1031 Exchange in North Park

Come see how others are making REI work for them in San Diego’s challenging real estate market at our August Case Study. This month we will be coming together to network and discuss the inner-workings of an awesome 3-unit BRRRR deal in North Park, acquired via 1031 exchange.

This month’s co-host,Threshold Investments Inc, will be walking us through the ins and outs of this complex exchange. This sneak peak will shed light on how to maximize returns and mitigate roadblocks while investing in San Diego multi-unit properties. Making certain that no question is left unanswered; some of the key topics we will cover are:

• Evaluating Your Portfolio For Potential Exchange Opportunities
• Analyzing San Diego Rental Property
• Planning and Executing a BRRRR Strategy
• Using 2-4 Unit Properties to Quickly Grow Your Portfolio

As always, we will open things up for a ton of valuable networking with other local investors after discussing the deal.

If you have attended an event in the past, you will know that we have a strict “no pitch” policy that we firmly uphold (That means you, “guru!”)

Other than that, all we ask is that you try your best to show up on time and with a bunch of business cards! (and maybe a friend/colleague or two)

Hope to see you there!

For Pictures and to RSVP-- http://ke1830.wixsite.com/sd-rei-meetup

@Kevin D. If you are still in the market and looking, my office could help you.

we are independent agents, meaning we will shop options.

we have 40 years of experience personal insurance--ie home and auto and we cater to investors of all shapes and sizes.

sorry for the shameless personal plug, but if you are still in need of help, feel free to PM me or head to my profile and email me or call my cell.  

Best of luck to you

@Dan H. @Justin R. @Kevin Fox  I think we should do this.  

Lets get on an email thread.  dan pm me with your email and I will set up a group email.

@Justin R. I am on board with that.  I think there is a lot of value moving that direction and it differentiates us from the "tour a project" folks that started up last year.

@Dan H.  I think we have enough runway to make this happen in June if its possible on your end...let me know 

My feeling is that realism is for those of us who have been around this business awhile.  Fantasy is part of the allure.  It is the unreal expectations that get a lot of people over the hump of fear and trepidation and into their first deal.  

Maturity comes with experience.  Temperance, is key to any long term investment strategy.  But, I think that in some ways, BP is really a 2 fold site.

1--it is a place to help newbies turn dreams into reality

2--it is a place for the experienced (or all levels) to have valuable interchange that offers a competitive and cooperative advantage.  

The romance of the business is key to enter into the marriage and stick it out later on.  

Does BP influence that, probably, but I don't think it is ever without the caveat of its not all honeymoon.