All Forum Posts by: Tj M.

@Maria D. Would love to hear what you end up buying and where when you complete the 1031. I am also looking to buy more property and interested in other markets.

@Maria D. Unfortunately I think you made the same mistake I did. You sold your property before finding something to buy to use the 1031. You now are in a time crunch to buy something even if it’s not a good deal. I think you really should find the new property first before selling the old one. I ended up just paying my taxes. Time is of the essence. Good luck.

I am doing a remodel on a house with knob and tube wiring. Would you spend $5k-8k to replace it all or just leave it?

I am remodeling a small 2 bedroom house and I am making it open concept living room/kitchen. I took out a wall and now there is only one wall to mount a tv. The house has lathe and plaster walls would you provide a wall mount bracket at tv area,put up a piece of wood for them to mount to or do something else to prevent damage?

@Guy Yoes

Who do you use for insurance? I have a 4 plex with 4 small individual houses and a 3 plex with a house and duplex and would like to have 1 or 2 insurance policies instead 7.

T.J.

@Luke Reninger That would put me at $655. Dang seems high but what do I know.

I was wondering what other people pay for 1 million dollar umbrella policy? Mine just jumped from $285 to $545.

For those that have paid off rental properties do you keep insurance on them? I have several small cheap rentals and owned them for 7+ years and never made a claim. Now that they are paid off I was considering not keeping insurance on them. I could afford to rebuild them if something happened. I just hate paying insurance payments. Has anyone gone this route or I am a complete idiot?

@Brian Ploszay

I am not acquiring properties at the moment and recently sold a primary residence. I am just trying to decide what route to take with the money I made.

@Lynnette E.

Do you mine sharing how many properties you own and how long you have been buying them. I have 2 properties that have a total of 7 units. They both have a mortgage now but could pay them off tomorrow. I kinda want to pay off my personal residence also then use all my w2 money and rental money to pay cash for everything in the future. If something really good came up and I didn’t have the cash I could just get a mortgage again if needed.