William Petrisko
Property damaged by fire, are unused insurance proceeds taxable? Tax implications for keeping vs. selling property?
I have a fourplex that was damaged by fire, thankfully no one was hurt.
For ease of the example, let's assume the following numbers:
Property was purchased for $150k. Insurance check I will get is $80k.
...
Deb R.
What do I look for in a titile company in Kissimmee, FL?
On the offer paperwork there is a section titled: TITLE EVIDENCE AND INSURANCEIt lists options for seller or buyer to designate closing agent. My RE agent selected buyer designates and says her company is affiliated w...
Jaime Botello
LLC
hello,I currently have two rental properties and I would like to set up an LLC to which I can transfer both properties via a quit claim deed. I have heard that in some cases the bank asks for the loan balance to be du...
Sean Leahy
mid term rental
I am writing to explore rental opportunities for a recently renovated property that has been 90% restored following fire damage. My goal is to make this property available to insurance companies, disaster recovery spe...
Mary Ann Casey
Multiple Umbrella Policies?
I need help finding umbrella insurance, and I've learned there's no better place to ask my RE questions than on the BP forum! :)My husband and I would like to purchase umbrella insurance We *think* we need multiple ...
Rudolph Wilson
Can a property be purchased without a clear title?
I'm trying to make a deal with a realtor on a wholesale deal that has a property for sale but can't get a clear title,What should I do?
Cameron Moore
When to Move Your Insurance Portfolio from Multiple Carriers to a Program/schedule?
As your Portfolio grows and evolves, so too do your insurance needs. Many investors start with a variety of insurance carriers to manage different properties. While this approach works in the early stages, there comes...
Mark Manship
Hurricane: Pain or Gain?
Well, it looks like Florida won't get off that easy as we reach the last few months of hurricane season.
With that being said, I'm wondering if anyone has had any experience closing deals (either selling or buying) d...
RJ M
AC Unit Was Stolen After Contract Was Ratified
I have a contract on a property that I went to view out of state. When I looked at the property there was an AC unit. Per my lender's request, I ordered a BPO over the weekend, and I got my report which stated that th...
Andrzej Lipski
General Liability for Wholesaling
I'm having a hard time finding an insurance company that provides GL and Error and Omission insurance for wholesaling. Does anyone recommend a provider?