All Forum Posts by: Peter Tverdov

Daniel Liu if you need management please message me. I specialize in that area of Middlesex county specifically and offer rates and service that is fantastic.

Originally posted by @David Dachtera:

Originally posted by @Peter Tverdov:

Yeah but you will need multiple LLCs to protect handfuls of homes as well (depending on the equity you have). 

I hate this LLC vs Umbrella argument. I always come out unsure but always on the side of Umbrella policy.

If you think LLCs are expensive compared to insurance, try losing a lawsuit without a business entity structure to protect you.

Always comes back to the same question: "How much money can you AFFORD to 'save' (read: not spend)?"

If $500/yr/LLC saves you losing your entire portfolio and your personal possessions and assets, which is cheaper in the long run?

David J Dachtera

"Success is not a destination. Failure is not an event. Success is a process, failure is a choice."
- DJ Benedict

 I never said it was expensive. If you don't have any equity in multiple LLCs then I find them pointless. 

@Thomas Butler if you want a higher quality tenant then looking in strongly gentrified areas is the way to go. FWIW, I manage property specifically in NB. 7% flat fee, no re-leasing fee, no extra fees. Dealing with college students takes a lot of work and is a completely different tenant. 

Yeah but you will need multiple LLCs to protect handfuls of homes as well (depending on the equity you have). 

I hate this LLC vs Umbrella argument. I always come out unsure but always on the side of Umbrella policy.

thanks @Edward B. the 1.5 covers all of my properties value and certainly covers my net worth. Should I just be worrying about having enough insurance to cover net worth? 

@Jeff Bridges wouldn't I be covered if someone sued for everything? 500k on each + 1m total is 2m.

I am going through my worst experience of my young REI career so far. I imagine some of you have had massive stress and headaches from underwriters so before I whine and complain I'd like to hear an airing of grievances from some folks.

Depends on your comfort level. I have 1.3m of real estate (not equity) and bought a 1m umbrella in addition to 500k of liability for each property so 2m total in coverage for homes worth a combined 1.3m.

What kind of numbers are you getting though? What's the net value of all those properties and what's the cash flow of all of them? That's always most important to me. 4 houses valued at 100k each = 1 house in the Northeast.

Those fees are ridiculous. I am a PM in central NJ. I know I'm on the cheaper side but I would never think of double dipping on leasing fees and then re-leasing fees. For me, I charge 8-10% of monthly rent, no leasing fee, no re-leasing fee and no markups on repairs. I like simple. That company seems like its nickle and diming you to death.