All Forum Posts by: Preston Wengert

Sorry, one more thing. In AZ you should consider a RC policy with your buildings valued at least $100/sqft. Property rates are so cheap here it won’t cost much to have them insured that way.

Hey Randall, I am a broker in AZ and we have a national program for rental properties. It comes with $11mm in liability limits per building. $1mm underlying with a $10mm umbrella. PM me your email and I can send you a flyer with the coverage details. If you wanted a quote the property address would be all we needed. Good luck!

Hey Vince, We have a great program for rental properties. It is nationwide. We can put all of your locations on one policy. Any property after that would be short rated to the same date at the rest of your homes. If you are interested, PM me and we can speak more. Thanks!

@Ryan Moore A lot of polices come with a 25% minimum earned endorsement on them. Which means you are subject to 25% of the premium if you cancel. As soon as you have paid that amount there usually is no cancelation after that. So three months into it you should be fine. It obviously isn’t the case with every carrier but this is extremely common. Your previous agent should be able to pick that out right away. Let me know if you need any help with it. I am an insurance broker myself and we have a program from both multi family and single family rental properties. I am located in AZ but he programs are nationwide. Good luck!!!

Hey Jason! We have a great program for rental homes. I do a lot of homes in Indiana and almost half the town of Kokomo. I would love to help you out in anyway! Our program is designed for rental homes specifically. Thanks!

The lakeside/pinetop area of Arizona is really good. I have a couple rentals there and the demand is extremely high. My last vacancy had 30 applicants in 24 hours. Because it is in the pines, I don’t have ACs to worry about. A lot of good rental properties there won’t have those. Obviously the higher end homes will. The overall cost of the homes will be much less with a 3/2 house renting for $1200-$1500.

Israel, I work with The Mahoney Group and we have our own rental property insurance program. The coverages are tailored for landlords. We would love to help you out in anyway. In addition to our program, we are also a brokerage with hundreds of carriers we could use. Thank you!

Quick question! I just invested some money in a business and while doing so, a house I have had my eye on just popped up for sale. I was wondering if it would be smart to look for some private lending to purchase the home? I would just need enough for the down and it would all be paid back with in a year. Good or bad idea? Also, I would need a reference for a private lender in AZ. Any advice, or help would be much appreciated.

Hello! I was randomly presented an opportunity from an older friend this morning to buy 3 of their properties. They are older and wanting to cash out. My questions are:

1. How hard is it to purchase multiple properties at once?

2. Can I buy them under one bulk/jumbo/portfolio loan? (I don't really know the difference) 

Any banks or credit unions you can recommend would be great!

Thank you!

Thank you! @Wes Blackwell and @Grant Greene. I had no idea the tax code changed in regard to the HELOC interest. That is a very good bit of info!