All Forum Posts by: Account Closed

Welcome from another Louisvillian.  The resources and networking are amazing here.

I know a lot of people trying to invest commercially and residentially.  I applaud their efforts, and tempted to join the fray myself.  

I feel the same as the group here.  From my experience with Portland, it is still too violent to settle down.  I don't think NuLu had the same issues.  It will be an amazing transformation if it happens.  

Saying all that, I would be willing to partner with someone to mitigate some of the risks the area might have.  

Can you wholesale a section 8 property?  Is there something I need to place in the contract?

Also if there are current tenants whether section 8 or not, how this handled when you contract to buy and then assign that contract to another buyer?

thanks!

I am looking at buying Vacation property in Snowshoe WV.  Does any here have experience in that area?  Do you know of any realtors or property managers that I can reach out to?

Thanks,

Theron

Pat

Most companies allow you to endorse ID theft on your homeowners policy, and it is broad enough to cover what you need. Also, it usually runs about an additional $25-$35 a year.

Theron

Ronnie is right. I would have a licensed contractor due the work. Some insurance carriers will guarantee the work for a period of time, if done by their preferred contractors.

I am in the industry and have worked for 4 different companies. Each one has different rules on how they adjust claims. Depending on the skill of the adjustor, they may only take one contractor estimate if it looks reasonable. This has been my experience.

Thinking through the deductible is important. Because of the large amount of wind/hail in the middle part of the country, separate deductibles for these types of losses are common, and percentage deductibles can be confusing.

For example, if you have a 1% on a dwelling covered at 100K. Then the deductible will be $1000. Many consumers think the % applies to the amount of the loss.

As the owner, you are doing the right thing and preventing more damage.

The insurance company will not let you profit from a loss, so doing the work yourself could appear that way. They won't prohibit you from doing the work, but All they would probably pay you for is the supplies and not labor if you do yourself. Are you looking to get your labor included the loss settlement?

I am late to the party on this one. However, I am a Louisvillian in the insurance industry. I don't do direct sales, but work in marketing for a company that sells through independent brokers.

The last couple years have gotten really beaten up in the habitational markets. Remember the hail storm before Derby in 2012. Our company alone paid out 20 million in that one day.

It you own less than 8 or 9 units most personal lines companies will take you. Beyond that you have to go on a commercial form.

I am biased but I would stick with an Independent Agent because they will have more options, especially if your portfolio grows.

Jason Roberts at Edward Frank Insurance focuses on this niche and I know he has access to markets a lot of agents don't.

Welcome. I am a newbie from Louisville as well.