All Forum Posts by: Rod Hanks

@Cody 

If you have a signed contract and the ability to close you can a memorandum of contract to cloud the title and sue for performance. It depends on how bad you want the property though:

@Jessica Jordan

It’s pretty standard language in the builder contract about cost increases. It’s terrible but it’s been quite common lately.

@Joshua Tan

We have access to a Landlord insurance program that includes 2500 deductible, 1 million liability, replacement cost, loss of rents, and water back up that is very competitive in price. Reach out to me if you would like a quote.

@Sheri Cone

We have access to a landlord insurance program that would be perfect for you. It has a 2500 deductible, 1 million liability, replacement cost, loss of rents, water back up and the premium is very competitive. PM me if you would like a quote or go to my website.

@Stephanie Mccolaugh

Yes, it may impact price and coverage if it’s a short term rental but what you are describing is just a rental property on a month to month lease not a short term rental. Short term rentals are less than 30 days. And yes you will need 2 separate policies if there are 2 separate properties. The policies are called rental dwelling or landlord policies. Not homeowners insurance which is designed for owner occupied properties and include other lines of coverage like personal contents and jewelry watches furs etc. Landlord policies only covers the dwelling and liability.

@Jessie Kristie

I may be able to help. We have a landlord policy with 2500 deductible, 1 million liability, replacement cost and is very competitive on price. PM me address and your email and I’ll send you a quote.

@Doug Bullis

You won't find any 1 or 2% deals on the MLS, they are sold off market. Do your own marketing and deal with sellers directly and you will find those deals easily.

Use the tax rate against the ARV and you won't get a surprise tax hit.

It really depends on what the lawsuit is about. Mold as a result of the leak? Wood rot that was not covered? Bad faith in uncovered damages? One of the questions asked by insurance companies “are there any pending lawsuits against you or the property….” in your case you would have to answer yes which would raise red flags to the insurance company.  Get more details before pulling the trigger. 

@Brandon Rush

Ok gotcha. I use Buildium and get maintenance requests thru the system and I forward to my vendor with tenants contact info. It’s takes you out of the scheduling part.