All Forum Posts by: Padma Mody

I bought one SF for rental under my LLC

 and insurance company excluded liability coverage. Agent is saying that they can quote a personal umbrella policy that will cover liabilities for all my rentals. 

I don't know what I should do for insurance? Is everyone buy the umbrella policy? And for what the amount of policy I should buy? And why company is not offering liability coverage to LLC?

I don't like to invest in condo. I have one condo/townhouse in Gainesville and renting for $700 per month. But paying HOA $165. So you can say, my rental income is $535 per month.

I have two single family in Seminole county which brings me $900 each per month. And house I bought cheaper than condo. 

To buy multi family in Orlando is not cheap at all. In that price you can buy two single family. Also, as Levi said, it is hard to find here.

Around Disney area, you need more budget to buy any kind of property. You can't buy anything below $50k.

Levi, what are the unique ways to make money in Orland area? Can you please explain it?

I found one property and this single family house is rented under section 8. We were under contract and did inspection on Saturday. Since it is low price house, need some repair. In report, they found the water dripping noise and some rotten wood between bathroom and kitchen wall. So, my question is how can I fix this when renters are living in the house. I think, I have to redo the entire wall of bathroom to fix this problem. Can I ask tenant to empty the house for a week or so? I am thinking to redo the entire full bathroom and this house is with 1.5 bath, so they will be without the shower.

I am also from Orlando area and don't know when and where BP meets every month or so. Please let me know when is the next meeting.

Yesterday, I went to my property and I seen my neighbors and they did not said anything. So, I am just waiting to hear back if they really want to get resolve this issue. I will let you know when something happens.

It is not a matter that Can I afford to pay neighbor's water bill or not. If he provide me the proof, I am ready to pay him some money but this guy is just trying to scare me and that's why I am not agree with him.

We paid $55 to 58 water bill for last three month each and all these months, plumbing was not done. That means contractor only use water from outside tap. And he did  tiles for entire house. How much water needed for tile job? Neighbor is saying that his water bill is $220 and otherwise it is $60 per month. Here in FL, during summer everyone pays more water bill during simmer. 

Like six weeks ago, he asked us that his sister in law want to rent our house and we mentioned that she can email us the details but for her the rent was high... So, maybe he is trying to give us a hard time. 

I just finish rehab single family and renters are moving today! So, far so good but when I went to the house to give keys to my tenant in the morning, we found one small paper note was stick at the front door of the house. It was like this - call us when you get this note and phone# with the name. So, we called that phone# and left the message. After couple of hours they called us and we find out that he was neighbor next door. He told us that his water bill came too high since my contractor used water from his water connection! 

I seen my times, contractor was using water from tap outside which belongs to our house and other side of this neighbor's house. I told him that it is not possible that my contractor used water from his yard. He told me that he is calling police and will complain. 

I don't know what to do now.. Any idea or advise for this situation.