All Forum Posts by: Erick Caffarello

Thanks guys for your replies.  Much appreciated.

Greetings,

I'm looking to put my properties into a trust / LLC to protect my personal assets if I should be sued. I was recently made aware that this may trigger the due on sale clause. I will still own, operate, and manage the properties. Can anyone help me with preventing the due on sale clause?

Thanks,

Erick 

I tried to get a quote with Raines Insurance group, and was shopping around.  When I told him I was researching my options, and started asking questions, he said, "how dare you shop me".  Someone at NICIA told me to give him another chance, and I did.  I called him to get a quote through Berkshire, and he said he wasn't going to take the time.  That's where the Mastersons are different.  I blow up their phone and email like you wouldn't believe it, and each and every time, there is a friend on the other end of the phone.  The Mastersons are truly a cut above the rest.  I've just recently started, and its nice to have an ally on the other end.  Auto is not too competitive, but the service is second to none.  I can't seem to post their phone number, but if you google "The Masterson Agency" their website and phone number will come up.  I just wish I had the option to get a landlord policy quote online so I wouldn't have to call them so much.  That's really my only complaint. Good luck. 

I was not impressed with Erin / Shelter Insurance. For the most part, I'm happy with the Masterson Agency in Valparaiso, Indiana. (Apparently putting their phone number here is against the rules...) They have the best rates around for the most part. For my rentals, on average, I pay about $50-60/month for replacement cost coverage. I believe they're only licensed in Indiana. They work with AAA, Grange, Foremost, etc. The only area they aren't too competitive on auto, though, but it's like a $30 monthly difference or so. Just easier to have everything under one roof. The rates would have to be significantly lower to get me to switch. 

I only own 4 at the moment, but thanks for the reply!

Erick

Greetings,

I'm looking for an investor friendly insurance agent licensed in Indiana who specializes in residential investment properties, and who is familiar with the area.  Thanks fellas.

Erick

I was looking at a duplex here in Indiana that was in a registered flood plain.  Sump pit was bone dry, land was bone dry, and it had flooded badly about 8 years ago and had to be torn down and rebuilt...it was a duplex for $34,000...hard to pass up, right?  I'm glad I went back after a fresh storm...the yard around the house was completely slushy, but up towards the house the land was dry, and the sump pit was bone dry.  Too much of a risk.

Flood insurance for that property was over $3,000/year.  It was a brand new duplex, it was so hard to pass up.  But cleaning up after a flood and dealing with a frustrated tenant was not worth the price.  But I loved the duplex.  Absolutely loved it.  Floor plan was awesome, and the master bedroom was AMAZING! 

After I sat back and thought about it over the weekend, I opted to pass.  Just not worth it.  Hope this helps.  I know its not what you wanted to hear....

Thank you Mr. Kreitzer.  Much appreciated.

Good advice, thank you.  Actually, it makes sense.

Thank you for your feedback.  Like I said, somewhat new to the arena.  I do think the agent should be knowledgeable about the area.  I don't know much about Gary, but I'm learning quickly.  Also looking into LaPorte and Michigan City.  Have little information about that area especially.  Is there Rental Registration, do all contractors have to be licensed in the city/village, etc? 

Thanks.