All Forum Posts by: Stan C.

No one?

Hi All :) 

Can anyone recommend me a very honest, trustable, never overcharging, skilled handyman in Jacksonville, NC for minor rentals repairs and long-term business relationship? 

The one who would never take advantage of an out of state investor who can't check his work in person. 

I'd really appreciate this! 

Please feel free to PM me if you don't want to list his contacts publicly. 

Many thanks to everyone replying me here. I did buy my first property in Jacksonville, NC.

A question to anyone who has investment properties in Jacksonville or nearby areas, or who lives there.

Can anyone recommend me a very honest, trustable, never overcharging, skilled handyman in Jacksonville, NC for minor house repairs and long-term business relationship?

I'd really appreciate this.

Please feel free to PM me.

It has an AM Best rating of A, but very few reviews online, most are negative... 

Has anyone had any experience with "GeoVera Specialty Insurance Company" ? 

I see. Thanks, Chris. Well, there will be a management company, it's a duplex, leases will be 1 year. A no-go. I'm doing 25% down although it's very hard for me financially.  

Well, on the same note but different subject. An insurance broker offered me a HO3 policy on a non-owner occupied out of state duplex. I can't find any confirmations online that HO3 is allowed in place of DP3. Everything I read says non-owner occupied properties must be insured with DP3.  Both the morgtage broker and the insurance brokerage represent big companies and are reputable. How is that possible to get such questionable suggestions from reputable professionals???  

Or, is the HO3 allowed on non-owner occupied?

@Melvin List, are you certain of that. Even if underwriter says "OK"? 

Thank you Aaron Klatt. Does anybody else have am opinion maybe? What about tge IRS and taxes implications?

I want to apply for a conventional loan on a duplex out of state. Both units are currently rented and I intend to keep renting them. A mortgage broker said one of his underwriters may approve a loan as "second home" with 10% down (versus traditional 20% for an investment property loans). Is that a violation of any laws/codes to have a "second home" loan on a property that is actually an investment property?  What are the chances of running into troubles down the road? What are the downsides of doing so?   Can tax deductions be exactly same for both scenarios?  

I won't be under an LLC. Insurance would be for "investment property". It would be managed by a PM company.