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11 November 2024 | 5 replies
@Jordyn GeggIf you mean like property manage then you would need to get licensed and insured for each property since this new LLC does not own themI would not take on the Burden or expense of setting up another LLC for something like this since it doesn’t gain you anythibg
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12 November 2024 | 6 replies
The only defense is saving, reserves, and insurance.
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13 November 2024 | 9 replies
Here’s a quick checklist to cover your bases:Property Condition: Get a thorough inspection to assess major items like the roof, foundation, and HVAC—this helps you plan for any big repairs.Financials: Account for all costs, including taxes, insurance, maintenance, and property management fees if applicable.
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10 November 2024 | 1 reply
I don’t allow smoking and my insurance company is cracking down and now requiring me to say no smoking on the premises.
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16 November 2024 | 12 replies
The gross rents not high to start with and property insurance will take a large bite of that if you live in a state will a lot of storms.2.
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17 November 2024 | 30 replies
., repairs, maintenance, insurance) associated with a rental property.
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8 November 2024 | 4 replies
Although still rare, some of these duplexes are now coming with impact windows, which further lowers your insurance and increases storm protection, so this may be something else to look into.
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7 November 2024 | 7 replies
I have rental properties in both NV and AZ, all are 1 to 4 unit properties. Any advice on where I can go get all of them written together?
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11 November 2024 | 9 replies
The former owner sold to me because I run the community farm and he wants to insure the farm stays active.
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11 November 2024 | 13 replies
Here are the numbers I know so far:Rents4 units all currently occupied on one year leases- #1: 1/1 $995 monthly- #2: 1/1 $995 monthly- #3: 1/1 $995 monthly- #4: 2/1 $1,100 monthly- Gross rents: $4,085 monthlyExpenses- $12,070 taxes annually- $350 monthly insurance (my estimate, they have liability only right now)- $175 monthly landscaping- $120 water (electrical on separate meters, tenant pays)- Total expenses: $1,651 monthlyNOI around $2,434 before vacancy, maintenance, and management (although i would likely self-manage these)Property needs about $50K in other repairs and udpates from what I can see.