All Forum Posts by: Martin Guerrero

@jeff and @hamp thank you both so much for your input and feedback.  I appreciate you taking the time to respond.  

Any advice for a newbie looking at desirable areas where houses are greater than 100 years old.? Specifically looking at a duplex.  For those that buy older houses what are common things to watch for or lessons learned? Thank you. 

@John Mocker thank you for the clarification I appreciate that.  

@Charles Carillo thank you for the info.  If I already have a 1Million umbrella policy would that be sufficient or should the liability on the specific property be raised to 1Mil thank you 

Hello Everyone,

looking for lessons learned or must haves when shopping for home owners insurance on rental properties.  Currently in the process of buying a duplex and want to make sure I’m well insured for the unpredictable:) thank you all in advance 

@Eliott Elias no rush just comparing different strategies and competition is very high in my current market.  Last house I tried to put an offer was at least 30% above listing price, no inspection contingency and sight unseen.  I want to be dile to compete but also know I have some protection if something does come up.  In addition let’s say I’ve filtered down from 100 homes down to 3 potentially good deals I may want to put an offer on the 3 and hope I get one.  What if though all 3 offers get accepted.  I just want to be prepared before just jumping in to those scenarios.  Thank you for your time and advise.  Also what is option period? 

@Russell Brazil thank you for your perspective.  I appreciate your time.  :)

Thank you @Russell Brazil for the advice.  Lets say I am sure I want it and something unexpected comes up during the due diligence process.  In your experience do you normally buy the house or would you set yourself up with some robust contingencies and or escape clauses to protect yourself?  Would you recommend putting in an offer before even seeing the house or do you take your time and do the due diligence and take a risk on waiting to see the house and doing all that before putting an offer in?  Thank you.  

Thank you @Theresa Harris and Nathan, If I am at the point of offering I would know I have a good deal.  But as you say some things do come up and I would still want to be able to get out of contract and want to protect myself.  I don't want to be making offers on houses that I will most likely not go through with but I do want to be able to protect myself against any unknows and do so legally within the contract. Some houses are labeled AS-Is which I would have an understanding that the seller will not fix anything but I may still want to do an inspection and insure I am not getting something I am way in over my head.  Again not looking for escape clauses to put offers on many homes looking at more on doing my due diligence once the offer is accepted and being able to view the home after acceptance of offer.  

In our market it would seem that the good deals go by pretty quick on the MLS. I was wondering if there are a list of robust escape clauses/contingency that can be added to any contract when making an offer before seeing a home, when buying an as is home, or if we were to make an offer on multiple houses and they all get accepted. Thank you for your advice in advance :).