All Forum Posts by: Mak K.
Mak K. has started 93 posts and replied 213 times.
Quote from @Jason Bott:
@Christopher Lombardi all of the clients I have who are self insuring own their properties free and clear. They will go without Property coverage but still purchase a GL coverage. With Property you know the limit of risk you are taking, but with Liability claims, you never know, so best to keep that with the carriers. Not to mention the GL is usually only about 15% of your overall insurance cost.
I'd suggest asking your lender to put into writing what is the maximum risk they will allow you to take and then give those guidelines to your broker and see if they can improve on your current program.
@Ben Guttman is right in that the captive is probably the program that will most closely match what you are trying to do.
Best of luck with it.
If you have properties paid up, what does GL cover? Does it cover fire or just lawsuits?
Post: Renting Furnished Homes vs Traditional Renting Experiences
- Posts 214
- Votes 33
Hi,
I am considering one of the properties to do a furnish housing. I want to know what it takes to make it a good model. Is cash flow really good or is it too much headache? What is a cash flow look like. I have a 3 bed, 2,5 bath 1800 sf in Houston City in a good area. Traditional rent would be $1800/mo. What would furnished listing look like and how much is the vacancies etc?
Post: Foreclosure research websites- Houston/Galveston and nearby counties
- Posts 214
- Votes 33
Hi, I know all data is on the county website but it is time consuming and not user friendly. Are there websites I can refer to for foreclosures which shows listings, data, statistics and more userfriendly. I am ok with some payment but do not want to pay a lot as I am still learning this area.
My lesson is: There is no rush to jump in. There will be properties. If it does not make sense, donot buy and its easy to wait. My first property took 8 months, second, 7 months, and others I could figure it out and was two in a month etc. Between 2- 3 properties I waited 2 years just because Covid premium did not make sense.. anyways.. point is, it has to make business sense for you. Its ok to wait wait rather than jump in and loose money
Hi, I am looking at some lots in Harris county/TX area and I see many of them have "Restriction of Use" document during the listing. The restrictions are " The house needs to be 2500 SF or 3000 SF living space, and other restrictions similar to the HOA. Some states the lot cannot be divided or can only be divided in 2-3 smaller lots etc etc.
Are these restrictions which stay with the land for its entire life? Or can this be changed down the line? Why would the seller make such restrictions and is there a way to change it?
Post: Hospice _ 501(C)3 charity renting SFH providing hospice care
- Posts 214
- Votes 33
Do you have updates... Did you rent it out?
Yes once in Eviction court, I heard judge state in the similar case. If landlord sends the money back with Check and tracking number, it is considered not accepted.
Post: Experience with Renting to Home Health Patients
- Posts 214
- Votes 33
Hi,
What are your thoughts on renting a property to Home Care Patients who needs care. I know you have to modify the properties to ADA etc etc. Anybody had any luck with it and what is the rent expected and p&l, pros and cons?
Post: Harris County (Houston, TX) - Landlord Policy options?
- Posts 214
- Votes 33
I am facing the exact same issue. I am getting told many carriers do not want to write policies in Harris county while we had no hurricanes or floods or anything in last 5 years. I am in houston. PM me. Do you have suggestions on any brokers? PM me pls
Hi,
I am getting crazy prices in $5-$6K for landlord insurance in Harris/Houston. Anybody having luck with any carriers hungry for business? Any carrier names suggestions