All Forum Posts by: Allen Lopez

So I have two properties one in Louisiana, and another in Florida. Both of which have are rented. Both are fully paid off. I would like to put them both in llc(s). Their value is around $200k together. Do I put them both under the same LLC, or two separate ones? Since they are in separate states.

My long term plan is to eventually, put get equity out of them to but more properties. Any advice?

Thank you all in advance

@Rob B. Yeah do tell me more

Hey BP,

So I just closed on my primary residence in July. My mother would like to move to the same city where i live. Long story short, we have been apart for most of our life and I don’t want to be too far away from her.

Anyways, since I just bought my house, as my primary residence, is it possible for me to buy a “second primary” residence? I know it’s not primary if it’s the second lol I have the debt to income ratio and credit score to qualify, so that’s not an issue, Im just wondering if there is a way to avoid having to buy it as an investment property. If I buy it as an invest properly it means higher interest rate, which is what I am trying to avoid.

So my question, how can I buy my mom a house without it being an investment property?

Thanks in advance

@Eamonn McElroy

I stand corrected, their office was not barricaded it it’s just that they have a fence.

Still I shouldn’t let let them do any work on my property without insurance correct?

@Eamonn McElroy

But since they have been dropped by their Insurance due to lack of payment shouldn’t I be worried?

Also, forgot to mentioned that I drove to their office, and it was barricaded with a black metal fence with no trespass signs all over. And it’s empty inside from what I could see through the wholes

Help!!

So I hired a roofing company early about a month back to replace the roof on my property. I did my research. Company had good reviews, insurance was active, and looked great. They quoted me a total of $27k to redo the roof on my home (tile). Like every other quote we got, they requested 25% down to order the material. So I gave them a check for $6,600.

The job was schedule to start next week.

For the last 3 days I’ve been calling the company on all numbers to see what’s the status and to see if we are on schedule. NO ONE ANSWERS their phone.

I called their insurance and they said that they dropped the company as a client for lack of payment.

Job hasn’t started, not sure if materials were ordered, not sure if I just got robbed? What should I do?

Someone please help me. This is in miami,FL.

@Sean K.

So I spoke to my agent and he said that agents don’t deal with claims. We as the customers contact the insurance directly and deal with them directly

@Wayne Brooks

Roof is 10 years old.

And the thing is I didn’t see any damage or anything after the hurricane. One day it rain hard and my roof started leaking.

Im not an expert so if a contractor says it was caused by hurricane damage I can’t argue with that

Any of you guys ever had an issue getting insurance to pay for your roof replacement? So last year we had a very bad hurricane in Florida. The tiles on my roof started shaking and cracking (according to the contractor) the wind caused the tiles to lift up and break. Early this year, we had a very bad storm that did even more damage to the point that water started getting into the house. I submitted a claim under normal rain as I didn’t think it was caused by hurricane. The insurance said that they would not cover it cause the tiles were too old so the damaged couldn’t be caused by the rain. They told me that because I had a written quote from a contractor stating that the whole roof needed to be replaced and that the damage was caused by hurricane I needed to open a claim for hurricane damage. Now they are saying they just won’t cover it.

What should I do? Do I need to hire a lawyer to fight for me?

I feel like they just don’t want to pay for it. And they aren’t returning my calls.

@Steven Warner

Thank you.

So do I have to notify the lender about it or can I just go ahead and move and rent the property?