All Forum Posts by: William Chu

Hahaha you need to shop around even 5 mil policy still under $500. 

I don’t know your location and your landlord insurance policy. You can get an umbrella insurance cover up 1 million dollars in just under $200 per year. It will cover whatever happens for your rental and your auto even your primary residence. So depending on where is your rental at. If you are inexpensive area it should be more than enough! Usually your landlord insurance will cover most up. If not enough then umbrella insurance kicks in. Umbrella insurance more likely cover 1 mil per occurrence. So in this case if you have a few more rentals you’ll be fine. Is this make sense to you?

@Kevin S. If you have the first property just make it simple to get umbrella insurance would cover enough. Until you have a hand full of properties the you can have LLC or trust.

@Michael Hague moving forward don’t look back! It’s not worth the time to deal with it. Get the unit done and rent it out asap. The more you want to deal with this the more irritating you will have. Time is money. You dig a dry well do you know how deep you can dig into the water? That kind of tenant would have property manager to deal with it not you. Unless your property is under management. Especially small landlords get the 9-5 job. Your time is deal with more properties not a dry well! Hope this helps!

@Franklin Graves personal loan!

Modular is the same as stick build. It has foundation! Appreciate the same. But it’s not cheap either. If you want to build a 3/2 about 1500 sq.ft. it cost about $200k plus land, permits fees. Add a 2 car garage, driveway, landscape. So you will be at $400k-$450k ballpark. It depends how much the raw land. Overall still little cheaper than stick build. You’re not buying mobile home, you are buying a home it is built in manufactory instead of build on site. Hope this help!

@Calvin Kwan Oh wow, I have Hippo just about 9 months ago. I hope it would be ok. My primary is over a thousand now. My triplex very much the some as Hippo got a great deal. Most of the quote coming out extremely expensive because Ca fires for over 3 years on the road. You will see insurance companies taking advantage of it.

I talked to one of the property manager last year who wanted 10% management fee, plus one month rent for the first tenant moved in. 50% of rent to advertising to show property. Wow what a bite! That means this guy can get rid of the tenant every year by making good money on my property. No sir!!! I ended looking Cozy.com to collect rent for me and manage maintenance and repair by myself. This way at least you know if something happens you can jump on it right away. Your #3 is awesome! Haha get rid of all your concern and rent comes in clockwork. Good job. Keep going! Happy holiday.

@Ron Todd how much you paid of closing cost all together ?

@Gino Tomba

I told my tenant I will not provide W/D or tenant can rent the machines from me. Ten dollars each per month. And I promised to tenant after 36 months of the rental both washer and dryer will be belongs to the tenant. I picked up W/D from Facebook $100 each total cost $200 plus about $30 accessories. So 36 months x $20 will be $720 over 3 years on top of the rents. If tenant moved out by 1 year or two and I still own the machine. This way even cost to fix the machine for once still get covered. If lucky without fixing anything I make almost $500 profits. Plus they might end up to be a long term tenant because he wanted to own the machines. Win win!