All Forum Posts by: Jim C.

@Alexandro McQuillan- I have several rental properties, so the Series LLC sounds like a good fit for me for what I've read. If you only have 1 property, then a standard LLC would probably work for you and is much cheaper to setup in Indiana than a Series LLC. Also, get good liability and umbrella insurance if the property you bought is being rented out to college students.

@Eric Gaudio- Looking to set this up for liability protection. Got lots of properties and wanted to put each one into a Series. Have you considered Series LLC?

@Sergey Perevalov- I'm in the process of doing a modular in SWFL. There are many dealers / manufacturers in Plant City, FL (about a 30 minute drive from Winter Haven. These dealers provide a complete turn-key cost (house + foundation). Modulars are treated the same as stick built in the State of Florida. The only hangup is if you have an HOA that restricts modulars in the neighborhood. The cost for modulars is about 60-75% of the cost of stick built from what I've seen. I would recommend Jacobsen Homes in Plant City.

@Adrien C.- Indiana allows Series LLC starting Jan 1st of this year.

Hello Indiana BPer's: Anyone out there setup an Indiana Series LLC? Anything to look out for in terms of Insurance or setting it up?

@LuAnn Vigen- I had the same thing happen to one of my rentals. Tenant's insurance covered only part due to the fact that she had very minimum insurance levels (hers was 10k liability). Then the insurance company had ME get 3 estimates and they took the LOWEST one! Then, to add insult to injury, they depreciated the garage value saying it was old and took 25% off the lowest estimate! So after all was said in done, my tenant wound up paying the difference (about $2,000). I let her make payments. And of coarse she moved out shortly thereafter and stopped making payments. 

@Mayank S.- It looks serious to me also. Is it on an outside wall? Is it several walls, or just one wall?

@Catherine Lacey- I'm doing the exact same thing in Florida. There are many different modular manufacturers in Florida and each one has different specifications, so choose one that fits your needs / quality. The cost of modular is about 75% of the cost of a stick built home from what I've researched. Good luck on your project!

@Ray Jansma- I second @Dan G. 's recommendation. I know what attorney he is probably referring to, as I too use that attorney. He is the best. Evictions in 14 days or less for $500, no messing around. He has a lease on his website for purchase and highly recommend it also.

I alot of calls/emails whenever I post an ad for a property I have for rent online. A lot of so called 'wholesalers' who have no idea what to offer, and want me to enter into a contact with no money down, and will pay me if they can find someone else to buy it. Its getting ridiculous. I tell them anything can be for sale if the price is right.