Account Closed
Am I being too paranoid? (LLC structure & insurance)
Let me preface this by saying my ultimate goal is asset protection- that is my #1 priority. Now, moving forward I have an umbrella insurance policy, and will be opening an LLC for my current rental property. At ...
Tarun Kapoor
Very high insurance costs ($400/month) ! Any ideas ?
I have a signed purchase agreement for this fourplex for $328,000 in Minneapolis. Its a 2 story building with 2 units on each floor and an unfinished basement. Total 2500 sq feet above ground. There is gas based cent...
John Adamkewitz
How far can a bank bend commercial lending rules, for their own REOs
Hi BP,
Just what the title says. I have 4 reo condos under contract, not a snowballs chance in hell, of being financed conventional. I asked for and received (on Paper) a 3yr lock @4%, with a 25yr AM. in hous...
Michael LeBlanc
When should I establish a Legal Entity?
I’m about to house hack my first duplex and I was wondering when is the best time to get an LLC and why?
Sean Leonard
Looking for Landlord insurance + eviction, and malicious tenant damage coverage
I own a single family ranch house in Massachusetts, just north of Boston. We had a fire/landlord policy with Norfolk and Dedham insurance, however after my last tenant and last property manager allowed my property to ...
Jason Segrest
Moving your investment properties to an LLC
Do most mortgage companies care if you quit claim deed your investment property to an LLC? I've heard a variety of stories about mortgage companies finding out, and calling in the loan. Can you all share your experi...
Michael Brattelli
Insurance policies for rental properties
I would like to hear from long time rental property investors what things you believe are important in a homeowners insurance policy? What specific item coverage on the policy should be increased or decreased to have ...
Erick Garske
Insurance Company we not renew policy after claim
My insurance company will not renew my vacant property policy after an insurance claim for stolen gas and electrical services from BG&E in Baltimore, Maryland. This leaves me in a precarious situation since the I ...
Sean Lesser
Roof uninsurable after inspection
So I just purchased a house with an older roof in Florida where a 4PT inspection is required. The 4PT verified the roof was acceptable with 5 years estimated life left. I had to go off the standard market to get insur...
Josh Koett
Life Insurance- Return on Premium (ROP)
Hello BP Community, I took out a 30 Year Term, $100,000 policy with AAA Life Insurance. Right now I'm paying $36 a month. Presently I'm single, no kids and took out this policy at 31 years old and I've had it for a...