All Forum Posts by: Trevor Shakiba

Bump!

If you own your properties within a LLC is it prudent to also have umbrella insurance for each individual property? I've found obtaining umbrella insurance as a business (LLC) to be cumbersome and was wondering if the LLC provided enough protection by itself.

Thanks!

Multiple streams of income by diversifying the types of investments you have is never a bad idea IMO.

Hey Manuel,

My advice would be to find a good Certified Financial Planner and develop a plan for your financial goals, investments, insurance, etc.. Real estate can certainly be a part of that plan.

Just like any other industry there are great financial advisors and some not so great advisors. And of course full disclosure I am a CFP and think everyone should work with one! :)

Best of luck!

I second the John Reed recommendation.

My advice would be to find multiple deals and ask for input from BP, mentors, etc.. Make sure the numbers work, think worst case scenario..

Then, find the best one and go for it!

One caveat, however, make sure you have good reserves. If you don't, wait until you do.

Welcome and good luck!

Thanks Sharon. Just found out it is under contract. Inspection Friday, fingers crossed..

Trevor

Eric,

This is in Houston. I don't know the cap rate and I'm not that familiar with the calculation you are referencing.

Also, I might have an appraisal issue as it comes back under $160k due to a multitude of foreclosures close by. However, there is another Duplex which is exactly the same, pending at $199k. So, I'm hoping this raises the comps or I might have to bring more cash to the table.

Thanks for the feedback.

$2k (approx) is what I've been told per shopping my finance options. Reserves are good.

I don't think I can get it for less than $160k as it has been reduced all the way down from $215k over the past 12 months. I offered $145k initially and was rebuffed quickly. It seems the seller needs $160k minimum to pay off the loan.