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8 December 2021 | 123 replies
I can't speak for the other STR platforms but it gives you some additional peace of mind knowing you have some coverage.
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24 February 2015 | 4 replies
Cash reserves also include an owner's ability to borrow, getting to other sources of funds for emergencies and being able to carry short term debt.Multi, 5+ units are more to condition and net worth along with reserves and that is considering the debt coverage ratio, a minimum of 125%, better at 175% or more. 6 months PITI is still valid, that may well move out to 12 months as a compensating factor.Compensating factors are those aspects of the property, net worth, income and management experience that may out weigh a borrower's lacking in other areas.
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27 February 2015 | 5 replies
@Michael Klein just reach out to your insurance agent for a quote on a deal you are remotely interested in, they can quote coverage without an inspection or even visiting the property.
8 July 2020 | 23 replies
You want to look for the flexibility to not be subject to Co-Insurance requirements or minimum earned premiums and varying choices in deductibles and coverage forms.
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7 August 2012 | 30 replies
After a policy is issued it covers those title issues up to that date, if the insured (owner of the property) does something that causes a lien or defect in title to arise, any loss arising out of such actions are not covered anyway.When you sell the property, title will be searched again, basically from the date you bought it forward (could well go back further)with new coverage being issued.
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27 July 2015 | 2 replies
Since I don't care to rebuild and would be taking an actual value should the need arise removing this so-called safety net changed my quote significantly.The new dwelling insured amount is $227kLiability coverage $1MDeductible @ 1% $2,270Annual Premium: $727.07 Anyone who uses USAA might want to look into this, they called the 25% extra "Home Protector".
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7 January 2014 | 12 replies
The coverage is cheap, and there are additional benefits to your tenant (like personal liability coverage and loss of use) that can really benefit them.Those benefits will make it feel less like Mr.
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27 January 2014 | 5 replies
you need to first make sure you have adequate landlord insurance/ dwelling policy and it has coverage for the lost rent for a year in case of fire etc... umbrella is a good secondary policy to have. there is no such thing as too few properties to have a need for umbrella insurance.
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22 January 2016 | 16 replies
Hey,I would definitely look into an LLC in Wyoming due to the fact that they have better coverage for Real Estate compared to Nevada.
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8 March 2016 | 1 reply
I'm up in Canada so the rules might be slightly different, but generally up here if the roof is beyond a certain age (I think it's 20 years) you generally have to sign a roof waiver excluding the roof coverage.