All Forum Posts by: Terrell Garren

I am with @Nathan Gesner  If you take @Kevin L. s proposition, my little 16 SFR business should have PM software, commercial office space, HR, Legal, Marketing and maybe a corporate jet and helicopter.

Actually my insurance is always higher for vacant properties as well like @Ryan Murdock

I recommend you have some amount of coverage for catastrophic events and injuries. I am buy and hold; however, during the rehab period I use 'vacant property' coverage from American Modern.

I've laid laminate in a lot of houses but have never done that.  I can't imagine how a sealant could waterproof joints that move, expand and contract. 

I recommend you have some amount of coverage for catastrophic events and injuries. I am buy and hold; however, during the rehab period I use 'vacant property' coverage from American Modern.

I am not large enough (16 SFRs) to self insure because I need some degree of coverage for catastrophic events.  I can accept the risk for not paying premiums that cover full replacement value.  I insure for Actual Cash Value where I set the coverage amount.  I usually set ACV at around 75% of rebuild cost and the highest possible deductibles.  I also have an umbrella policy to cover litigation.  My feelings are that insurance is an area where scale or deep pockets provides a competitive advantage. 

I put good used appliances (range, DW, Frig, MW) in my first 10 or so SFHs. I saved a few thousand $ but it was just to labor intensive to scale. Since the price of stainless has gotten so low, I've used new stainless on my last 6 SFHs.  I love it when a solid prospective tenant does a walk through and the wife/lady sees the appliances.  "You had me at stainless.."  I've found it to be a good spend to hook great long term tenants.

I've used Lowes 7mm Project Source laminate throughout around 15 SFHs minus the bathrooms. The laminate is around 68 cents / sq ft. Several are over 8 years old and still look great. I would never lay carpet in a rental.  There are just too many affordable more resilient options.

@Christian Hansen I use Lowes out convenience and returns.  There is a new flooring store near me called "Floor & Decor" with a huge selection of all things flooring.  Price are competitive to Lowes; however, Lowes military discount tipped the scale for me.

@John Warren > Good point that I had not considered. Thank you.