All Forum Posts by: David Paul

if your referring to It being too hot in terms of properties getting picked up quick I would completely agree. Market seems to be starved for inventory. When you mean you aren't going to put anything down are you referring to an FHA loan? I've been using a line of credit for these two initial properties. Interest rate is low but is subject to change so I need to keep my eye on the interest rates. I'm looking to put renters in both properties. However my first one I can't put a tenant in for a year b/c of the condo association.. I knew about it but I was a little to excited about the deal which was good for the area. My lesson for that is to slow down lol. All good though.

Hey Angelo,

I also live in Palm Beach County, and am new investor to the real-estate market. I closed on two properties last week and am pretty excited about it. What kind of things are you looking for? Something for yourself or to rent out for income?

Hey BP!

So I've been getting insurance quotes for a property I am purchasing to rent out. I was going to buy the property under a LLC, however my insurance provider stated that I would need to get a SEPARATE policy for personal liability under an LLC. This brought the price up significantly and cut my margins. So now I am considering closing under my personal name but the insurance lady stated that the maximum personal liability coverage is 300k without buying an additional umbrella policy for additional personal liability. I want to make sure I am making the right choice and hedging risk, but I am also concerned about how much is too much insurance and protection when it comes to cutting into profit margin.

Hello bp!

I have just purchased two investment properties, one townhouse and one condo. I need to get homeowners insurance before closing and I am wondering what a suitable amount of coverage would be. I believe that both properties have a master policy because they are members of an hoa. The insurance rep she would recommend 50k, which covers all interior damages. I'm assuming all exterior damages would fall under the hoa policy. I am so grateful for this website, I have gotten great feedback.

Hello bp! I have just purchased two investment properties, one townhouse and one condo. I need to get homeowners insurance before closing and I am wondering what a suitable amount of coverage would be. I believe that both properties have a master policy because they are members of an hoa. The insurance rep she would recommend 50k, which covers all interior damages. I'm assuming all exterior damages would fall under the hoa policy. I am so grateful for this website, I have gotten great feedback.

Hello bp! I have just purchased two investment properties, one townhouse and one condo. I need to get homeowners insurance before closing and I am wondering what a suitable amount of coverage would be. I believe that both properties have a master policy because they are members of an hoa. The insurance rep she would recommend 50k, which covers all interior damages. I'm assuming all exterior damages would fall under the hoa policy. I am so grateful for this website, I have gotten great feedback.

Hello BiggerPockets!

I am currently under contract with a condo in North Palm Beach Florida that restricts the ability to lease within the first year of owning the property. A financial advisor asked me about AirBnB as a possible solution, as there is no formal lease. Has anyone encountered this as an option? I am thinking about trying this and asking for forgiveness rather then permission.

Hello BiggerPockets!

My name is David W. Paul and I am a private equity investor located in Northern Palm Beach County. I have noticed a great deal of big VC firms coming down and buying up real-estate at market price (or a little above), which indicates to me that people are pretty bullish on the area. I have decided to ride on there coattails and take a hard real-estate position in my investment portfolio. This is a new venture for me and I look forward to learning and growing with all of you. If there is anyone with any experience in this marketplace please don't hesitate to contact me!

-David