All Forum Posts by: Santhosh Ramani

 Thanks Theresa- this is good information. I didn't know this is something the insurance company would help with (i.e. building/fixing). Appreciate your response

 Great! Thanks Hadar. I'm waiting to hear back from my insurance company. I sure will reach out to you for further guidance! Appreciate your quick response.

Hi BP folks - 

Seeking options/opinions from the forum here.

I am a passive real estate investor & I own a property near Little Rock , AR. This property was almost completely destroyed by the recent tornadoes. I'm waiting on insurance's final decision.

In the meantime, I wanted to understand what are my typical options here? Unless forced to do so (by insurance/lender), I would prefer to exit this investment, given my limited bandwidth. 

Thanks,

Santhosh

Hi folks -

I'm about a couple of years into REI and own a few properties in AR, TN and TX areas. Never visited the properties - all are managed by different PM companies.

Im getting ready for the possibility of relocating to a different country (home country) due to personal reasons. 

I am considering owning these properties for the long term. I have my own set of concerns about this, but wanted to get some additional thoughts/perspectives.

1. Would you say this is an ok thing to do? 

2. What are some major considerations?

3. What conversations do I need to have with the PM companies?

4. Given, I'll not have a US mailing address, how will the important communications be addressed? Eg. Mails from county, mails from any legal teams for any violations (if at all), tax documents, etc.

5. Do I get taxed higher for continuing ownership for out of Country?

6. Any other considerations specific to any states?

7. Do I need a power of attorney ( a family relative or friend ? Or the PM company itself? If yes, How do I ensure it isn't misused?

Thanks in advance. I glanced though a few other posts but they were focused on property purchase from abroad. I'm not looking for that - it's more about running a self sustaining business.

Best,

Santhosh

 Never did that - lesson learnt for my future purchases. I will try asking the seller on warranties.

Thanks,

Santhosh

 Elliot - thanks for the quick response. I'm seeing what you mean in terms of killing cash flow.

Can you please elaborate on "owner financing my homes"? Not sure I follow.

Thanks,

Santhosh

Charles - this is a good link. Thanks for sharing - sure does give me a good perspective. 

Hi Folks-

I'm about ~1.5 years into passive real-estate investing (mostly purchased rehabbed homes); I currently own a few cash flowing properties in the likes of Memphis & Little rock. It was a relatively smooth start, but the homes seem to have major repairs (Such as drainage issue, kitchen tiling etc). All these expenses easily eat away the gains I accumulated over time

Wondering if other members typically purchase a home warranty of sorts to minimize these expenses? IF yes, what are some good providers who might have relatively inexpensive ones. Further, are there blanket policies (like an umbrella insurance) where they cover multiple properties at a subsidized price.

Seeking wisdom from the forum!

Thanks,

Santhosh