Isaac El
Can a home owner sell house with insurance claim?
I found a house that is boarded up and got intouch with the home owner. He tells me he doesn't want to sell because he is waiting for insurance money. Can he get insurance money and not fix and still sell me the hou...
Andrew B.
Thought for Charitable Cause - Where to Start
Hey BP,
I'm trying to flush out an idea and looking for some help. Unfortunately there is some tragedy tied to it but trying to find a way to have an outsized impact.
As many of you may have seen, on Aug 5, 2020, th...
Larry Alexander
Is State Farm Ripping Me Off?
Colorado Home Single Family Homes1.) New construction SFH 2145 sq ft | 4 bd 3 baInsurance: 593.00 on a 359k home
2.) 2003 SFH 2048 sq ft " 4 bd 2 baInsurance: 799.00 on a 330k home
3.) 1993 SFH 2184 sq ft 4 bd 3 baI...
Caleb Walters
Tax implications on flipping a house we've owned for 30 years
We are going to sell an old house that has been in the family for years. It's a tear-down property. I am running the numbers on the idea of tearing it down and rebuilding it myself, then selling the new construction...
Donald DiBuono
How high should I insure a property for?
Purchased my first 2 Family home. One insurance agent advised me to insure up to the purchase price (216k). The other agent advised I insure up to 500k as the asset is already depreciated and, worse case scenario, you...
Burt L.
What Level of Building Coverage Does a Landlord Really Need?
WhIen speaking to insurance agents they ask me how much building coverage do I need? I have no idea but I'm told that $200 per sq ft is replacement cost in the greater metro area. Does appraised value or loan value ha...
Jered Collins
Review my deal Richmond, VA
Found a 3 BR 1BA bungalow style home in Richmond. I'm submitted my first offer today.Sq Ft = 1,018List Price = $65,000Initial Offering Price = $32,000Max Limit = $40,000ARV = $125,000Realtor Fees = $7,000Closing Cost...
Anthony Harper
Landlord Policy for 4-Plex
I'm under contract right now for a 4-family in South City. My objective with this landlord policy is to protect my investment, whether there is a partial loss or total loss. I've narrowed it down the choice between tw...
Parker T.
Insure Rental at Replacement Cost
All,
I'm putting a bid on a foreclosure today at 30k. The insurance company quoted the replacement cost at 160k and with everything else factored in a quote of $94/m. This seems extremely high and doesn't fit...
Kevin Kittilsen
Capital gain Ordinary Income Tax on rental to be demolished
I run a family owned general contractor business (custom homes). However, I am not a registered principal of the company (s-Corp). My mom and dad are the two registered principals as they started the company 30+ years...