All Forum Posts by: Jason Haynes

@Joe Splitrock - great info, thanks for sharing. The first one was a slow leak in the attic of a second story unit. It ran all the way from the attic down an exterior wall and kept tripping a breaker in the wall of the kitchen in a unit below. That's how it was discovered. At first we thought it was just a problem with the dishwasher. After it happened a couple times we discovered the leak. The insurance claimed the original leak had been going on for over 30 days so they wouldn't cover it. Although once we discovered it was a leak the claim was made that day.

That's really good advice about watching the claims though, I didn't really even think about that. It's an older property so it's already been pretty tough to keep insured. 

The second one we just discovered last night (it's been freezing here in TX for a few days), so I'm thinking one of the pipes up there just busted - haven't had anyone out there to assess yet.

Thanks again for the info!

We recently experienced a catastrophic flood at our 6-plex in Dallas, TX. We're looking for an attorney to navigate the claim process and be sure we're covered. 

Why?

We had another flood at the property about 6 months ago (unrelated). The adjusted took a week to come out, agreed there was damage and instructed us (in writing) to proceed with the repairs. We did what we needed to in order to minimize damage and get everything opened up and dried out, and then waited on full repair until we heard back from the underwriter. They took over 3 months to respond; and the response was that none of this would be covered - they denied the claim all together.

There was about $30k worth of damage, and with other projects going on we decided to cover the cost and move on (out of pocked). We figured at the time this would be cheaper and less time spent than fighting with the insurance. 

With this new flood, we want to be sure we're doing everything by the book to be absolutely sure we're covered. We also are hoping that we can get at least some of the last claim covered to offset the cost.

If anyone knows an attorney that specializes in insurance claims (especially commercial real estate), please let me know. Also, if anyone has dealt with battling the insurance companies for denied claims, any insight would be greatly appreciated. 

I have a 6-plex that I need to be insured. It's in DFW and it's owned by an LLC. If someone can set this up, I'm also willing to move all other assets over, if pricing works. Currently with Allstate, which cannot cover this property.

I have a 6-plex that is currently covered and fully occupied. I'm looking for new insurance to take over at the end of the month. The main structure (4-plex) was built in 1929 and there are two additional stand-alone structures that were built sometime after that. I have a separate umbrella policy that covers the property, so I'm looking for basic insurance to cover the structure itself. If you or someone you know can help me out please reach out here or send PM. Thanks!

I'm looking at a property that's zoned for mixed use. It has two apartments that are set up to live in. It also has a commercial office area downstairs that is currently leased out. We are considering purchasing this property, living upstairs and using the bottom as an event space or coworking space. I've talked to both of my lenders (residential and commercial) and neither seems to be able to take the loan on. 

Does anyone know what type of loan I would be looking for? Or if it's possible to split it into two loans (one standard residential and the other more of a commercial loan)? Any input would be appreciated. 

We're in the process of acquiring a 6-plex in Dallas. Our current lender (that we love) can only go up to 4 doors. We would like to find someone in the DFW area that can help us finance this project. Any and all recommendations are greatly appreciated! 

Interested, please send details.

Interested, please send details.

Interested, please send details

Interested, please send details.