All Forum Posts by: Justin Rickson

I’m an agent and that is true. There are a lot of factors that can change a price. Location, year built, improvements, previous losses, square footage, rebuild cost, etc. An agent will typically throw out a large ballpark range being if they said “typically $800” and you just so happened to get the lucky $2500 property, you wouldn’t be happy with them.

@rob bianco are you Kansas City, Kansas or Missouri?

A contractor liability policy usually isn’t that much to have for a one man show. If the contractors are opposed, you could look into creating a company, have the proper insurances in place (GL, workers comp,etc) hire them as an employee of the company, and negotiate a lower compensation.

I would say there is no such thing as too much liability. The whole idea is to be protected against large claims, not minor events. You never know where a lawsuit could end up once attorneys are involved.

As far as insurance goes, yes. Not all companies will entertain student rentals, and typically they are written on limited covered perils. When I had my student rental I had 1 year leases June- May. Depending on how you rent them (by room, or by apt) you will have different management needs.

Joshua Lupo one thing to watch for is flood zones in theses cities. My first property in Troy was one block off the river and no one made mention about flood insurance until 2 days before closing. This can cut into cash flow significantly.

You should be able to get them on the same policy, each building with its own limit but shared liability amount.

@Nathan J. Good luck ! I live in the area and have been asking around for the past 6months+. There are a bunch of "mom and pops" but no solid company , with a good reputation that I've came across. Most seem to be contractors that do it on the side. If you find someone you like let me know!

@Curt Davis is dead on. I went to one of these a few years back.the only benefit of it is if you are real green in the game it'll help get some ideas and excitement going.the $199 three day seminar (or what ever the going rate is now) I would say is worth it for that reason and you may meet some local contacts.

@micheal powers the best tip I could give you is get to know your neighborhood. Neighborhoods can change quickly block to block in these cities. Pm me and I can give you the name of an agent, as far as management goes I do my own and don't really know of any companies that have a stellar name to recommend .Also, let me know what quality of areas you are looking to be in and I can tell you where to avoid.