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1 October 2024 | 9 replies
However (I'm an insurance agent not an attorney) the legal wrangling of the PM not taking a necessary action could set up a situation where the insurance carrier pays then subrogates back against the PM company for their inaction so the property manager should also have appropriate general liability coverage for their business.This next part can change by state and insurance carrier...Being named as lienholder or mortgagee can set up the lender being involved on the payout of any damages - say there is a fire the checks cut for damage could name the insured and lender so both parties have to agree how those funds will be used.Some carriers have a rule that if the loss amount is under a certain dollar amount the check is only cut in the owners name / if the loss exceeds a threshold (say $25k) the check is cut in both the owner and mortgagee names.Being named as loss payee is literally that - the check is cut in your name or both the insured and your name.
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30 September 2024 | 24 replies
We dropped the price after the fed cut rates last week and got two showings pretty quickly.
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1 October 2024 | 5 replies
If it cuts too much into your profits, look elsewhere.
29 September 2024 | 4 replies
I know that it's not nearly as clear cut as that but that was my general plan.
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1 October 2024 | 2 replies
Check out the cuts next time you're in one of these houses, they are usually flawless.
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3 October 2024 | 14 replies
Some lenders will cut your LTV if you want to refi, but do not have tenants in place yet.
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3 October 2024 | 9 replies
Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.
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3 October 2024 | 0 replies
Let’s get into it.Last week was all about rate cuts.
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1 October 2024 | 9 replies
They might not respond to emails for a day or two and when they respond back, there's no transparency in when things will be done.Stay away from them if you don't want to waste your time.