Cindy Veit
BRRR method - put property in LLC or personal name?
It has been 10+ years since I have bought a rental property. We currently have 7 loans in our personal name. I was looking for a bank to do a cash-out refinance in our LLC. One banker asked, "why don't you put it in y...
Kelby Schimming
Can I 1031 a "flip"?
Hello BiggerPockets,
Quick Note: I did thorough research on this and keep getting contradicting advice.
I recently purchased a property with the intent of holding it as a long-term rental property. I cosmetically...
Gurjot Grewal
Is 500k liability enough?
Having a hard time finding a policy that covers sump/water backup, but I found one at an okay price. The only problem is the liability coverage is max at 500k. I'm buying with a LP/Corp structure, not a LLC. Unsure if...
Deuce Thevenow
Indianapolis Cash Purchase Looking for Lender on $50k Renovation
Hey Everyone,I have my first property under contract for a 2/1 in Indianapolis that I was able to get before it went on the MLS. I am planning to purchase for cash but I have the option to purchase using a hard money ...
Jon Pate
Is it possible to dissolve an owner financed mortgage
In this scenario, lets assume the mortgagee and mortgagor are both in agreement and would like to terminate the existing mortgage agreement (rather than pursue foreclosure). Is this even a feasible solution? I could n...
Andrew R.
Insurance type, coverage level recommendations?
Hi, looking at my first SFR rental, out of state in Kansas City, MO. The house is approx 100K for 3bed/2bath, built in 1960 but rehabbed. Got an insurance quote for $1300/year. (It sounds high). It covers 250K replac...
Scott Rodriguez
Horrible remodel experience
So we made the mistake of hiring a contractor without doing the research or coming on here now we’re in a bind. We’ve spent a lot of money on this guy who we don’t believe is licensed and he hasn’t got much done in t...
Gabe G.
criminal liability of a tenant causing damage?
I have seen a state or two that has laws on the book, for a criminal offense, if i a tenant intentionally destroys a landlords property. These would not just be normal "damage" that could be seen as an accident, this ...
Shari Posey
How much liability coverage do you have/suggest?
Right now I have no liability insurance on any properties. All are owned free and clear so I don't have to have insurance but I'm worried that a tenant will slip and fall in the tub and sue me. I have fire on a single...
Marvin Meng
Sexual advances from a prospective tenant
So this is a first for me...I had a prospective tenant look at an apartment last week. They asked to see the lease so I emailed them a copy of the lease. The individual next emailed me over the weekend and asked if th...