Freeman Schultz
Questions about insurance claims and tenant liability
I had a discussion with a colleague about a tenant who damaged their apartment. Tenant flooded a unit, which caused damage to the unit below. Insurance is called in. Does inspection and the estimate is higher than the...
Murtuza Bengali
About to close first house - inspection report revealed TERMITES!
Hello dear BP members,We are rookie investors who have been studying the markets, talking to agents, property managers and fellow investors diligently since the past few months. After going through multiple deals and ...
Harvey Yergin IV
Acquired property with existing tenant - security deposit?
Good morning BP!Background:I recently bought a property with an existing tenant. I received the tenant's security deposit at closing. However, I did not receive and the tenant does not have any paperwork showing the c...
Jason Brown
Burned out Miami MFH Rehab Estimate! Thoughts?
Hi All,I am currently looking at a potential deal in an solid C class neighborhood here in Miami.The building is a 4 plex that suffered fire damage and was completely gutted. It's a solid block structure with 2 units ...
Orrett Lawrence
Tenant not wanting to repair excess damages
A current tenant has damaged the rental property beyond the normal wear & tear. (3 by 6-foot hole in dry wall; Garage access door complete broken off with damage door frame, the main entrance door way frame is bro...
Chelsy C
Have any of you as a flipper being sued by buyer?
The current property I have with some termite damage, and we have the termite company treated it. But we only replace all those termite damaged wood which is visible. Also some of those woods were covered by another l...
David Robert
Single family home with severe cigarette damage, great price
I recently became aware of a very cheap property (roughly half of after repair value) and upon looking at it in person I found out why it was so cheap: there is severe cigarette damage throughout the 1st floor (baseme...
Eduardo De La Cruz
how to Analyze a Fire Damage Duplex
Hello Everyone!
Best why to analyze a fire damage duplex? I am a newbie in real estate investment...the property is been sold for $139,000 as is. I was sold in 2015 for $109,000 Damage is extensive; half of the prope...
Michael Mignogno
Who is responsible for destruction to property, the PM or Owner
Hello Everyone, Recently in one of my STR homes, the tenants cause major destruction to the property. It looks like they rented it for 2 days and went wild. Holes in walls, broken bathtubs, smoking weeds in the hous...
Jibu V.
Renters Insurance for Tenant-Caused Damage
When a tenant vacates or is evicted, does their renters insurance policy cover liability in a lawsuit for damages to the property caused by the tenant?Everything I read online discusses only "accidental" damage, but I...