All Forum Posts by: John Schaeffer

Hey Billy,

Are these houses rented out 6+ months out of the year?

Hey @Mert Turan,

Welcome to the world of real estate! First thing you want to do is start building your network of people who can assist you in getting deals done and then find a good mentor.

@Jake Handler is a local agent who could assist you and point you in the right direction.

 @Jake Handler has a property management company that can walk you through the process.

 No problem Michael,

Happy to help further if necessary

Hi Emma,

I suggest finding a good realtor that knows about off market properties in your area. @Jake Handler comes across a few often as he's looking for me currently. Reach out to him and he can assist you.

@Jake Handler is the ideal mentor for sure. I know 3 of his agents personally that he's developed into top tier agents and would do the same for you.

Send him a message or give him a call.

Hey Michael,

I'm an insurance broker in Totowa.

ALL insurance premiums are rising everywhere and there's nothing ANYONE can do to stop it. The only thing you can do is shop around for a better rate and hope you can get one from another carrier. 

Generally all carriers are now requesting the building to be insured to the full replacement cost which is determined by the carrier. Market cost vs replacement cost are two completely different things and it can sometimes be confusing. 

Generally you want to stick with what you're good at which is investing and your full time job and find a broker who is good at insurance and understands the investment side of real estate as well.

Expanding on my comment further condo insurance is different than a single or multi family home as you are typically insuring the "walls in" of the condo as the association is responsible for the exterior of the building. I generally do $125 per sq ft on a condo for dwelling coverage if it helps at all.

Hey Steve,

I'm an insurance agent in North Jersey and you'll have a tough time finding coverage.

I can try to find something for you if you'd like.

Hey Andy,

Her renters insurance will cover a dog bite IF she has a dog that's on the approved list. I would go much higher than 300k liability and do 500-1M if possible.

HOWEVER,

On your landlord policy it might ask if you allow pets, and if you do the TENANTS pets must be on YOUR carriers approved list as well.

Hope this helps. Happy to speak further if you have any questions

 Hey Derrick!

@Jake Handler has a property management company that can help you out.