.- Duplex cashflows 2100 gross after payment- Duplex is under an LLC and we extended our Umbrella policy another 1 mil and to cover duplex.Scenario:- We purchased another primary residence worth 295k and financed 230k. (30yr mort.)- We have listed our Old primary residence for 265k FSBO

While we have a personal umbrella policy and the maximum limits on the rental property insurance, I was hoping to create more of a buffer, if that makes sense.

Plus he won’t need all the umbrellas that he did in your area.

Or it is good to buy umbrella coverage?  

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is likely to be higher, then you may consider an umbrella insurance policy.

The brokerage account option is great for those that want to be able to do all under one umbrella (i.e., invest in real estate, stocks and mutual funds and process the solo 401k loan).

Do I need umbrella insurance if my liability limits on my properties are already 1 mil/property, 2 mil aggregate?

Read through them before you waste money establishing LLC as I did that back in 2008 as that was the better way previously, but then everything got screwy and no one would lend to a new LLC , then found out couldn't transfer property we bought to the LLC, anyway, without due-on-sale issues and pass-through liability, anyway, so we actually got rid of the LLC and just got higher coverage and an umbrella policy and not happy that we wasted the money on the lawyer who didn't tell us all this until after he established the LLC.

Real estate is not finance, but real estate falls under the finance umbrella.

The question of LLC umbrella insurance vs. personal umbrella insurance is one I recently became aware of.