All Forum Posts by: Neil Aggarwal

My Dad lives in Plano and has been doing rentals since the 70s.  He loves East Plano and Allen, those are great areas for you to look at.

That is the same thing everyone else is looking for.  It is going to be hard to find deals. There is a lot of competition right now.

Without good comps, its a complete swag (I hope you know what that means) as to what the ARV is. I tend to be very conservative or pass when that happens.

Hey everyone, I am a lender.  One of my borrowers has not paid their mortgage for over a year (Long story).  Their insurance is up for renewal but I should be able to foreclose the property pretty soon.

Their escrow account has no funds and I do not want to pay for their homeowner policy out of pocket.
I would rather put a dwelling policy that covers my company, especially since if the property sells at auction, I want any refund coming back to me instead of the homeowner.

Please let me know if you have any recommendations for an insurance agent that can do a lender forced TDP3 policy on a homeowner property.

Thanks,

  Neil

Welcome to the madness, congratulations on your first deal!

Welcome to the madness!

 They sell safes so maybe they crack them too!

A realtor will find you properties listed in MLS. That seems like you will not find the right prices.

Its the law of supply and demand. There is now more supply for renters to choose from, including some nice new apartments.  Prices are coming down.

Thanks for the clarification!