All Forum Posts by: Sayli Mulay

I am selling a property owned by the SDIRA. What are the Do’s and Don’ts? 

So far I understood these rules-
1. Make sure Seller on the purchase agreement is IRA.
2. IRA custodian signs all documents (purchase contract, warranty deed etc)
3. Proceeds should be deposited directly to IRA
4. Can not sell to prohibited party
What else?

@Scott Scoville I am also interested to learn about small multi in Sacramento region. I currently invest out of state but I would like to invest locally. With high interest rates and high prices everything here is negative cashflow. that was my understanding. 

Thank you @Bjorn Ahlblad
As you suggested I shopped some more and found what I was looking for.

My question is not about how much coverage or NW or rate. The question is how do you add your LLC properties in your personal umbrella ? The insurance company does not allow that. Will your liability umbrella cover any liability claim of your apartment building ?

What is personal liability policy ? Is it different than personal umbrella policy ? do you have any recommendations who provide such policy ?

I have the exact same fear as you mentioned. I will be sued personally even though I have an LLC. That's why I wanted my personal umbrella to cover the rentals.

I have 6 single family rentals, each has landlord policy (DP3 type) 500k liability coverage.

Last year I transferred (QCD) the properties from personal name to LLC so I added LLC as insured on those policies. The declaration page shows personal name and LLC listed.

Now I am trying to add them in Umbrella policy but the agent says - Rental properties would not be included under the personal umbrella because they are insured as LLC.

What is my best option ?

Do I need to change landlord policies to some sort of commercial policy ? 

TIA

@Poonam Hemrajani thanks for sharing.

For me 2.8 is awesome rate.

@Craig Shutich

Same here. My heloc is paid down to 0 and I want to keep it as a backup for future rental investments.

I asked about the closing time because I see different rates based on rate lock period. 60 day lock has slightly higher rate than 30 day lock.

@Craig Shutich

how long did it take to close?

And do you think you would have gotten better rate if you had closed heloc?

@Mark Stark thanks. I will send you pm