Drew Beale
LLC or Umbrella Insurance? Turning Current Residence Into First Rental Property
13 February 2024 | 10 replies
You can either A) Set your liability limits on your rental home's policy to at least $1 million or B) Search around for an umbrella policy that adds $1 million in liability coverage to both of your properties.$1 million in liability is what I recommend to have, but you can certainly go higher (or lower).
Zeke Nickie
Short term rental/ Vacation home
13 February 2024 | 11 replies
It's generally a good idea to make sure the subject property could rent out as either STR or LTR and still be profitable.That being said, after you do your homework about regulations and the projected performance as an STR, you can determine if your property is set up to compete against the higher performing comps in your sub-market.LTRs are a lot less effort, but STRs, if done right, will not get worn out as quickly as an LTR.
Greg Pawluk
New STR-advice is welcomed
14 February 2024 | 2 replies
Learning long distance is a great skill set to have.
Sam Abe
Leasing Company not disclosing information
14 February 2024 | 3 replies
When setting up an account with a credit reporting agency, a landlord and property manager will submit a simple credit access application and supporting documentation that proves their need for access."
Robbie McCarthy
Looking for a real estate focused CPA covering PA and NJ
13 February 2024 | 5 replies
I'm a developer, landlord, flipper looking for a long-term CPA to work to grow the business by setting the optimal tax strategies in place.
Jennifer Porterfield
PA tax on Sheriff Sale and Funds for Pmt
14 February 2024 | 7 replies
As for paying with certified check, in most counties you only need to pay a deposit; the sheriff should have rules that set the amount of the deposit to be a percentage of the winning bid or a fixed minimum amount, whichever is greater.You determine your maximum bid, and then get checks sufficient to pay that deposit amount based on your maximum bid.
Logan M.
Buying 12 new MHP Communities in 2024
14 February 2024 | 25 replies
This year I have set a goal to acquire 12 new communities.Currently, we have 8 communities but last year we acquired 4 new communities.A lot of my time is shifting from day-to-day operations to acquisition of new parks.The ways I am going to find these communities are:1.
Michelle Hadian
Under contract for STR with DSCR... Now what?
13 February 2024 | 1 reply
I need to know what to do to set us up for success and get launched once we close in 30 days.Also wondering how best to maintain the past guests who have stayed at the cabin (there are tons of nearly 5 star reviews, that I doubt I can transfer to us- or can we?)
Matthew Warzel
REVA Appointment Setter Best Practices/Successes?
13 February 2024 | 1 reply
Our goal is to have her keep the call going as long as she can and set the viewing appointment.
Moses Lee
Do I need umbrella policy if rental property insurance also includes liability
13 February 2024 | 3 replies
At this stage, I don't think I need to set up an LLC, but I see a lot of people recommending getting an umbrella policy.