All Forum Posts by: Sharon Carter

Some companies refer to the policy as Landlord Investment policies and some refer to them as dwelling fire policies.  I highly recommend contacting your current agent that writes your home and auto insurance and ask them to write the insurance for all your investment properties as well.  Your current agent should also make sure you are adequately protected for lawsuits, etc.

Hello Mike,

I'm an insurance agent in houston for an independent agency & yes the insurance for investment properties can be very costly and that's because of the risk insurance companies are taking when they write it. Most times investors have their main; home,  auto, umbrella insurance with a direct writer & since most direct writers;  allstate, statefarm, usaa, etc won't write the investment properties it forces the investors to contact independents. If we don't write the 'main' we don't or can't usually write the 'scrap' or the pricing is extremely high so that you won't except it. Best solution is to place all or none with an independent who will then be more than happy to shop markets and spend more time helping,  advising & writing your business.  That helps with avoiding gaps as well. Yes, there is a policy available to have all your properties on one & just add as you buy. I hope this helps and good luck!

Thank you Eugene for the response and for explaining the operation of dealing with out of the country sellers/investors.  The process you've explained is exactly what's happening, therefore I feel better about you already.  The seller has been to the embassy twice and told to go back due to private notary he used was not licensed for another aspect or something. His next appt is next week and I'm hoping this is the last.  I'm new to the real estate world and my first purchase is not a good experience but I'm not giving up or quitting. This first purchase is buy & hold in my rental portfolio and my next will be a flip. I'm looking forward to my first flip project and I agree 'trust' in any relationship, personal or business is a big component in being successful.  You have to trust others as well as others trusting you and both parties do their due diligence.

Wishing you the best in forming many great teams around the world! If you decide to take on a 'Newbie', learning team in Houston, TX with an experienced rehabber to shadow a project, I am very interested. (I'm currently reading 'The Book on Flipping Houses by J. Scott so I'm learning new REI terminology)

Thank you again.

Hi everyone,

I agree with the Rich.  Don't be so quick.  Please do your due diligence and research the process involved.  I previously posted my dilemma in when I closed on my first rental purchase from out-of-the-country seller (Singapore) and I still don't have the keys.  I closed and paid-in-full, cash on March 4th, 2016.  My tenants were set to move in 3-18-16.  I've been told the seller refused to give power-of-attorney to someone (relative, attorney) here in the U.S. and is now having problems getting an appointment with the embassy / consulate to legalize/notarize the paperwork so they can be returned.  (other buyers will also learn the hard way - he's selling 2 other townhomes) I am losing money!!!  Please research, ask questions, get agreements that will stand up in court, ask questions & more questions.  I have learned a valuable lesson!  I am not saying this is not a great connection to do business but just be careful, VERY careful. 

Hello all,

Here is an update on my 1st purchase, or no purchase!  Remember I closed on 3-4-16 (signed and paid).  Well I still don't have the keys or ownership.  Now I've been told the sellers are in Singapore or Milan and can't seem to get the consulate to notarize or do whatever it is they have to do before returning the papers and therefore unsure of when it can be done.  I have requested my money back and told them none of this was disclosed to me prior to closing so I expect all my money back, including the earnest money.  I'm not sure yet if that will be a battle I have to cross and asking my BP gurus for help.  Any advice, suggestions will be greatly appreciated.  I did ask the title company & realtor (also the listing agent) why they didn't have the sellers give power of atty to someone here in order to close and settle these transactions.  They said the sellers declined so I told them more of a reason to disclose the information to potential buyers. (the sellers have 3 condos they are selling & can't sell any of them because of this)  Help please?  (I suppose I lost my title of 'Investor').  Thank you in advance.

Hi Omer.  My experience has been great and they have delivered as agreed and now I have to do my part in reaching my goals set for 2016.  I too used to get the emails and finally decided to call to get the free consultation with no obligations. 

No, F4F is the funding from unsecured credit cards with Danny Shaw and Scott.  I tried the hard money loan but needed out of pocket money to get the loan so I decided to go this route.  I just stay positive that I can get this first one closed and buy & flip the next one to pay off some of the cr cd debt.  Thanks and good luck.  Let me know if any other questions about F4F.   

According to the title company the money has not been given to the sellers yet. I did a search on the sellers & found that they actually live in here in Houston, TX and the realtor told me she was told they are only vacationing out of the country for awhile. (not sure of how long). Today I found out it will not fund until the papers are received from the sellers.  (only wish I had been told so I could have planned for the delay).  I've put the tenants on notice but I could possibly be held responsible to find them a place to live until my property is ready.  Thank you for your reply and hopefully I hear good news soon. 

Hello everybody,

I'm new to posting on BP but not new to reading all the forum posts and attending some of the webinars. My background is in Property/Casualty Insurance, a licensed agent in TX.  I've been wanting to get involved with real estate investing for about 5-years and actually started my research back then.  I kept putting it off because I didn't have cash for down payments or cash purchases but had excellent credit.  I tried dealing with a wholesaler of whom I think was very frustrated with me because I couldn't get the dp or funding so I was dropped.  I continued to search until I received the email from F4F (funding for flipping) so I contacted them and after much prayer, research and reading reviews I accepted the offer and started the process.  On 3-4-16 I closed on my first townhome, paid cash and tenants are scheduled to move in 3-18-16.  I have a dilemma and need the BP gurus advice and/or suggestions.  I found out the sellers are out-of-the country & the paperwork was sent to them to sign on 3-4-16 however to this date the papers have not been received back by the title company.  I still have not received the keys to the townhome to do any repairs, make ready, etc. and have been told by the realtor & title co that they cannot give me the keys until they've recd the signed documents of which they don't know when it will be.  They've told me the sellers have an appointment with the Embassy next week regarding returning the paper work and that's where I'm confused.  Has any of you ever heard of this before, experienced problems like this or can tell me if this sounds right?  I need the keys and can't understand why I can't get them since I've done my part; signed papers and paid.  I have to get this resolved because I have to move on to find my next purchase. I know I can be successful at this!  Thanks in advance.  Sharon.