It occurred to me today that I've never asked about umbrella insurance claims.I’m particularly interested in real-world examples where this type of policy came through during:Property damage (fires, storms, floods, etc.)Liability claims involving tenants or third partiesMajor unforeseen eventsIf you’ve ever had to file a claim and your umbrella policy saved your bacon, I’d love to hear:What happened?

Recently came across a lake house which we would like to rent out for weddings and event venues. The local Mayor is saying we cannot reuse the space for this. While no formal laws say this is restricted, we are gettin...

SizeCracks wider than 5 millimeters (0.2 inches) are a cause for concern Cracks wider than 15 millimeters (0.6 inches) may indicate a serious problem Cracks wider than 25 millimeters (1 inch) could be a sign of structural damage Location Cracks above doors and windows, Cracks near the ends of walls, Cracks where walls and ceilings meet, and Cracks that allow daylight in.

@Ming HuangRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

@Amir PortalRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I suspect that is because of Hail damage ???

@Derick JenningsRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

They provide fake checklists saying units are repaired according to agreed-upon inspection reports only to walk in to a home that is more damaged than it was during escrow.

It's laborious, messy - but it was far less damaging/challenging than the photos found on the internet...even with plastered walls.  

Detroit is a great city to invest in one just has to be aware that is is a block by block city and to be careful