All Forum Posts by: Matt R.

I'd really love to see a simple answer from someone with credentials to back it up but I've never seen it.
(You know the drill - "I don't play a doctor on TV so don't treat this as legal advice" - or something similar.)

When I quizzed my real estate-savvy CPA she has her business under a (large) umbrella policy and no LLC protection, relatively cheap premiums on that. Since LLCs are a tad expensive in California maybe that's a simple cost/benefit trade off for her.
From my reading of what 'fire policies' provide there's NO liability coverage, it's purely for rebuilding your property.
A separate liability coverage line item should be added to your insurance policy, I've got mine set up for $1M. But then, I'm a small potatoes landlord :D

Being a canny Scot, I've spent as little as possible - no guru classes or courses.
The guy who got me thinking about this was good ol' Kiyosaki on a PBS program ( ! ) a year or two ago. Then I bought a few of the NOLO books related to landlording and spent a TON of time on the web.
About 6 months ago I discovered BP and have spent even more time soaking up everything I can. This place has provided way more knowledge and motivation than I ever imagined was possible from a free web site.