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All Forum Posts by: Peter Morgan

Peter Morgan has started 174 posts and replied 447 times.

Post: Declarations page required to cancel old insurance?

Peter MorganPosted
  • Rental Property Investor
  • West Des Moines, IA
  • Posts 447
  • Votes 63

@Lance Phillips

Yes, I have an Escrow account with my lender

Post: Declarations page required to cancel old insurance?

Peter MorganPosted
  • Rental Property Investor
  • West Des Moines, IA
  • Posts 447
  • Votes 63

Hello,

I need to cancel my old insurance policy as they kept on increasing the premium indiscriminately but the  insurance agent is insisting on giving them a copy of new policy's declaration page before they can cancel the policy and issue a refund for the  old policy.Is this step really required?

Appreciate your inputs on this.

Thanks 

Post: Burglar bars insurance cancelled!

Peter MorganPosted
  • Rental Property Investor
  • West Des Moines, IA
  • Posts 447
  • Votes 63

@Bruce Woodruff

The original owner about 15 years ago may have found burglar bars far more beneficial in his entertainment room ( a finished basement below bedrooms) over overly sensitive burglar alarms.By the way there are no burglar bars in the bed rooms. Also I read somewhere it's quite common in NYC to have burglar bars so it's not necessarily an indicator of a questionable neighborhood.

Post: Can I change insurance? Lender already paid from escrow

Peter MorganPosted
  • Rental Property Investor
  • West Des Moines, IA
  • Posts 447
  • Votes 63

Hello,

I am looking to switch my insurance company to save on insurance premium ,unfortunately the lender already paid in full for the entire year already. Can I still make the switch with a full refund from the previous company? Current insurance expires in 12 days

Thanks

Post: Burglar bars insurance cancelled!

Peter MorganPosted
  • Rental Property Investor
  • West Des Moines, IA
  • Posts 447
  • Votes 63

@John Morgan

Thanks but there is a door for exit as well , still need to get the bars removed?

Post: Burglar bars insurance cancelled!

Peter MorganPosted
  • Rental Property Investor
  • West Des Moines, IA
  • Posts 447
  • Votes 63

Hello,

In the past an insurance company cancelled my insurance because they found burglar bars upon inspection. Personally my preference is to have burglar bars for the sake of security and protection. When shopping for home insurance should I upfront tell the insurance agent about burglar bars? Appreciate your inputs

Thanks

Post: Geico Landlord Insurance??

Peter MorganPosted
  • Rental Property Investor
  • West Des Moines, IA
  • Posts 447
  • Votes 63

@Forrest Williams

Do I need to go through with an agent to get a better rate or directly online is fine?

Post: 401k or Real Estate?

Peter MorganPosted
  • Rental Property Investor
  • West Des Moines, IA
  • Posts 447
  • Votes 63

@Lane Kawaoka

Awesome insights, I have a 401k from previous employer with over $100k was thinking in the lines of opening an SDIRA to invest in real estate. Would it make sense to open a Solo 401k ?, I am currently employed fulltime and don't own any LLC

Post: Tenant reported outlet not working in bathroom

Peter MorganPosted
  • Rental Property Investor
  • West Des Moines, IA
  • Posts 447
  • Votes 63

Hello,

My tenant reported that his outlet in bathroom is not working, the cover looked chipped. Anything I can do to troubleshoot before calling an electrician? The gfi and the breakers don't look tripped. Appreciate your inputs.

Thanks

Post: Is solar roofing worth it?

Peter MorganPosted
  • Rental Property Investor
  • West Des Moines, IA
  • Posts 447
  • Votes 63

@Benjamin Perkins

If there are three units under one roof, what should be given as estimated energy bill

to get a quote in Tesla website? If its $150 per unit the energy bill estimate must be $450?