All Forum Posts by: Kyle Reynolds

look into HRG - https://www.homeriver.com/ 

Will just say that it is important, in my opinion, to have a good Broker to go to when having a Rental Property - they can tailor a policy to what you need - you can go straight to a insurer and ask for a Landlord policy but I like having someone in my corner who is looking out for my Interests

I think you are right to a degree - things here in Las Vegas still seem like its a hot market however the houses appear to be sitting for a little longer than they were about 6 or 8 months ago - the correctly priced properties seem to be selling and the properties incorrectly priced, I think the average Home Buyer is saying "no way" to the high price and waiting for it to come down to a reasonable level 

It comes down to the numbers anyway in the beginning - you don't have to physically see the interior initially- would be best if there are photographs of the interior on real estate platform so you can gauge the interior condition and possible cost exposures once you take ownership - after you Offer and get the contingent contract you have your window for the Home Inspector to take a look - your entitled to that inspection so if the Owner/Seller isn't cooperating or instructing the Tenant to cooperate accordingly then probably best to move on to the next Deal

After you take care of the wood rot (guessing it is the plywood sheathing behind that's going bad) you could use T1-11 siding as an inexpensive siding replacement to mitigate your total costs for this project. 

My account filed in AZ even though we didn't owe anything to the state; we did it to stay compliant and be transparent. Good advise from RE professionals @Natalie Kolodij and @Raul R. ....file in all states you do business in even if taking a loss

I like your thinking. 

Actually, I'll offer one recommendation...look into -    Philadelphia Insurance Company

Hi Tristam, I unfortunately can't offer any commercial insurers as for you but would like to comment on the loss...

I'm not sure if Carrier denied this claim entirely ; if they stole wiring that would be considered Theft however I personally would consider the damages caused to the property Vandalism; in order to remove the wiring they had to gain access to the wiring and that would have probably damaged the sheetrock wall, damaged/scratched the paint, debris on carpeting (maybe metal shavings from wiring in carpet) and possibly even caused damage to the front door to the home to gain access.  

Sounds like this loss could have two Perils involved; one which might warrant some coverage. @Peter Lohmann mentioned if the damages were minimal then mess well just incur the costs and withdrawal the Claim because its less than deductible. That would seem appropriate here if it is below the deductible; the owner can just write off the repairs at tax time. 

Hello Josh, there are many companies here; I can advise you as to which ones that I know ....

1. Triumph Property Management

2. McKenna Property Management

As to their fees and if they manage Multi Family Properties, please do your due diligence. I've been a Tenant under both companies' management. 

@Chris C. @Matthew McNeil @Joe Splitrock @Aaron Hunt...

Thanks for the feedback guys. Rent is becoming a waste and why waste the W2's. Need to take advantage. 

To be honest, I can't find anything below 240-250k where I want to live. Schools matter here. 

My interest is now;  if I get into a $1,500 mortgage then how do I get it lower; how do I refinance to be competitive with rental market and break even..? Will be researching this for sure.