All Forum Posts by: Chris Propes

Welcome Brandon. I am pretty new on here as well but it has been a great source for info and learning so far. I live and invest in the same area as you. I am definitely not an expert but let me know if you ever want to discuss deals or chat about our market.

I recently used Wallin Plumbing and was really pleased with them. Good family owned business and they don't try to gouge you on price. They are out of Conroe so I am not sure if they service the Spring area or not but you might give them a call.

I currently have 4 single family homes and am in the market for my 5th. 

Yeah good point. I will get my insurance agent to quote a $2 million policy and see how much that would cost me. 

It seems like asset protection gets discussed on here a lot and I am totally in the better safe than sorry camp but I am really curios to hear about peoples experiences with having to use that protection. Obviously its a touchy subject and I am sure a lot of the details cant be posted for legal reasons but is anyone willing to share if they have been sued and why?

What are everyone's thoughts on what would be a good amount of insurance to carry with four single family rental homes?. We have had a $1 million umbrella policy for many years along with $300k liability on each property and I am trying to decide if that is enough coverage to make me feel comfortable or if I should bump it higher. The properties are all good quality in nice areas and we are pretty diligent about making sure we take good care of them so I feel that my risk is relatively low but I am curious to hear what others have to say. Any specific examples of suits that have breached the $1 million mark?

I know I can get additional protection with an LLC but so far I have stayed away from that option mainly just because of the potential difficulty for financing future deals and/or transferring my existing properties with mortgages into the LLC.

My experience has been that the taxes can have a big impact on cash flow but you really have to look at the tax rate for each specific deal as opposed to just a general average for the area. Total tax rates can vary by 1% or more for houses that are only a few blocks away and that 1% has a big impact on cash flow.

Thanks all! I am excited to learn more from everyone on here. 

Mitchell, 2 of our rentals and our primary residence are actually in April Sound, We love the neighborhood but it seems like prices keeping going up so it is getting harder to find any good deals in there.

Random question, how do I link to peoples profiles if I mention them so it tags them like Jill did above?

Hi Bigger Pockets! I am a new member from Montgomery, TX and my wife and I are interested in buy and hold rental properties in the northern suburbs of Houston (The Woodlands, Conroe, Montgomery, Willis). We currently have 4 single family rentals and are looking for our 5th with the ultimate goal being to own around 20 units over the next 10 to 15 years. So far the growth of our investment strategy has been purposefully slow and methodical but I am hoping to be able to start accelerating that growth over the next few years. I had read a few blog post from bigger pockets on specific issues I was trying to solve in the past but I never realized the huge amount of resources available on this site until recently. Now I am hooked on the podcasts and am currently listening to the Rental Property Investing audiobook. Thanks for this great resource!