All Forum Posts by: Payman A.

@John Mocker

Thanks for the reply. Keeping the names of all owners makes sense though there is no LLC yet. It's an option I'm considering and if we go that route, I would think only the LLC would be named insured.

I appreciate the list of items to look out for and I'm glad to say we're looking good.  Though liability is not the primary concern, some other losses (water/fire damage) are difficult to predict/avoid.

Hi Chris and thanks for the reply.

A SMLLC treated as a disregarded entity, which is what we would do, shouldn't create any comingling concerns since the entity's income is a pass through on our taxes.  I was more concerned about management having any hesitations.

Also, not concerned about getting sued (and why an umbrella wouldn't serve the purpose), what I'm trying to avoid is a loss on one property affecting the other properties' insurance premiums since they are currently all on personal policies.

Hope that helps clarify.

First, I combine my vacancy with my PM's tenant placement fee for a total of 11%, which is based on my actual vacancy rate of closer to 6% when I go back and average the last few years + 1/2 month's placement fee (4.17%). I've also gone back and averaged ALL my expenses (repairs/maint, utilities, lawn & rent ready) and came up with about 15.8%. I'm just about to complete an extensive rehab, which finally gives me a good read on my CapEx allowance and that is working out to be 20.6%. These were C class properties that I'd now consider B class after the rehab so hoping that my 15.8% figure will take a dip for the next few years (maybe the 11% as well since freshly renovated units tend to have longer staying tenants).

Hi all!

So with a recent refi and a couple loans paid off, my wife and I are looking to reduce our exposure to claims by having only one of our names on each of our personally owned rental properties (so a future claim doesn't end up on both our personal insurance reports).  One option is to transfer title to the spouse that will be insured but I was wondering if anyone has experience/advice on either of the following options:

- Transfer to a single member LLC and insure as such but still receive rents in our personal name(s)

- Keep both of us on title but remove one name from insurance policy

Thanks and looking forward to any replies,

Payman

Hi all, ran across this post when searching Salibury, NC.  I'm looking at an industrial property there and was wondering if anyone could chime in?  I'll also try sending a couple DMs.

Hi all,

I'm interested in connecting with bonded builders/GCs to invest in new builds that we can complete and sell in/around OC area. My existing arrangement is great in that the GC is also an agent who knows the area, looks for lots and is involved in both the buy and sell transactions. Any recommendations would be appreciated!

Hi all,

I'm interested in connecting with bonded builders/GCs to invest in new builds that we can complete and sell in the Raleigh area.  My existing arrangement is great in that the GC is also an agent who knows the area, looks for lots and is involved in both the buy and sell transactions.  Any recommendations would be appreciated!

Hi all,

Researching Rhino now as my new PM is using it. One thing I want to point out, which makes a difference to the tenants really, is that this is apparently a bod (not insurance). You can read more in the following article and Rhino's own website:

https://shelterforce.org/2020/...

https://www.sayrhino.com/blog/...

Hi all,

Researching Rhino now as my new PM is using it.  One thing I want to point out, which makes a difference to the tenants really, is that this is apparently a bod (not insurance).  You can read more in the following article and Rhino's own website:

https://shelterforce.org/2020/...

https://www.sayrhino.com/blog/...

Good morning Jeremiah and thanks for chiming in.  I will add Sterling to the parties I'm communicating with and hope to soon own in Missoula.