All Forum Posts by: Gabriel Mendez

Renters Insurance- For the tenant and should be required. You can be added as interested party to receive notifications in the even the policy lapses. This covers the tenants contents, provides liability protection, and provides loss of use coverage. Loss of use would be if the house burned down they could receive compensation for certain costs for not being able to live in home. EX: Hotel cost, food cost, etc.

Landlord (Dwelling Fire Policy)- This policy is typically if you own the property and are renting it out, then you would purchase a Tenant Occupied Dwelling Fire Policy. This provides coverage for the dwelling (structure), offers liability protection, limited personal property coverage (appliances, etc.), and some policies will even offer coverage for libel/slander, wrongful eviction. 

Homeowners- Offered for Primary residence/owner occupied dwellings. This is a package policy that includes coverage to rebuild home, liability for home owner, and personal property included (typically 50-70% of Dwelling coverage). There are other coverage that can be included such as extended dwelling limits, building codes coverage, and equipment breakdown coverage. This is a requirement for any primary home with a mortgage. If the policy lapses the lender will typically force place coverage.

In summary you (as an owner) would only need to purchase 1 type of property policy depending on the occupancy. If you are renting, Dwelling Fire tenant Occupied. If you occupy the home as your primary residence, Homeowners policy. If you are the renter than a renters policy. You could not for example have both a Dwelling Fire policy and Homeowner policy.

My girlfriend was born and raised in DHS and im out there monthly. I have known for some time about the cannabis boom out there and have recently seen the construction going on for the large grow sites. I would imagine this is going to be overall good for DHS. It will help bring in tax dollars and also more people. DHS is right in between Joshua tree and Palm Springs and with the marijuana industry coming in that could bring more people into DHS, not to mention they have natural hot springs. DHS could be great for short term rentals (Air BNB) due to the fact that Joshue Tree can be pricey and also sells out quick.

I have also noticed that last time i was in Palm Springs around New Years that there was a lot of construction going on and remodeling. It appears they are doing renovations to the hotels/casinos in the area. 

I know that DHS has its fair share of crime though so have to be careful with where you choose your property. Overall, I think DHS and Palm Springs are good areas to check out and i am currently looking at them myself.

Just started the book two nights ago. Look forward to finishing so i can hit the ground running.

Hey Bo,

Im am not from those areas but am located near you and also looking for out of state deals. Let me know how those cities work out, Id be interested in hearing your feedback.

This is an area that i have been interested in and have knowledge of the area. My girlfriend grew up in DHS and both her parents still live in DHS. She does not like the city at all due to poverty and gang issues. If you are looking in DHS specifically i would keep an eye out on the crime rate in the neighborhood.

On  a more positive note, Desert Hot Springs (DHS) is an up and coming city that will be big in the marijuana industry. They have already started converting lots to turn into commercial grow sites. This could be huge in terms of turning the city around and bringing revenue to the city.

I was just in Palm Springs for New Years and noticed lots of construction going on. They are renovating a lot of the casinos in the area as well. I see this as positive for the future as well.

Just a little insight on some of the stuff thats going on in the area.  

Edi: also, might wanna look into short term rentals like Air bnb because DHS is the last city before the drive into Joshua Tree. Joshue tree gets filled up quick and could be pretty pricey so DHs would be the next best bet

awesome to see blockchain being used in real estate. I am very optimistic about blockchain and crypto currencies in the future. Currently invested in different crypto currencies which are now giving me the capital to invest in real estate.