All Forum Posts by: Zaid Badabwan

Thank you Jon, Corby, and Jason. I appreciate your replies. Very helpful. 

I have 4 rental properties and have 2 separate liability insurance policies. I would like to know

1. Difference between umbrella and liability insurance.

2. Do I have to buy liability or umbrella insurance for each property? or one policy will cover all four?

3. Do I buy the umbrella or liability insurance in my name or in the name of the LLC of the property?

I would appreciate your answers and experience.

Hi Peter

I am facing the same problem of shared water meter which is really damaging the whole investment with tenants' carelessness and ridiculously high water bills. I have contacted plumbing company here in Tampa for submeters and came out with about $5K for each unit which is also very expensive choice.

I wonder if you came to find a more reasonable option? Will appreciate your feedback.

Hello friends

I intend to add quadplex to an existing one in Tampa, Florida, and talked to the county to confirm zoning. I would appreciate your expertise on the steps I should take. Do I start by hiring an engineer to make the design and get county approval and permits, or securing the building loan first. Any advice will be welcomed. I know that your real life experience will be more valuable than anything written in official sites. I am also sure that your knowledge and experience will also save me in preparation and building cost. Thank you all, I have asked questions before and received very precious answers from you.

My lender is asking me to prepare a proforma for the retail strip I am buying (5 stores and a residential apartment). Do I do a proforma for the whole building as one unit or do I have to do it for each unit and find out the area, rental value, expenses, ...etc of each unit. I appreciate your help.

Thank you for your knowledgeable replies. Appreciate your help.

Hello

I bought a duplex with a loan from the bank. The zoning allows 2 more units in the same land and I would like to do that. I need your help and expertise in:

1. My options for 20 to 30 years loan to construct 2 units.

2. Do I have to arrange with the lender of the first loan before I start searching for the new loan?

your input will be highly appreciated

I am buying a multi-unit property and cannot find cost replacement coverage insurance because of needed repairs. The lender requires that kind of insurance before closing. What options do I have? Is there anyway to get the required coverage in a promise to repair after closing? or any suggestion I can propose to seller? Any suggestions at all? 

Appreciate your comments.

Thank you Theresa, that was very useful information. I have searched google for estoppel and found information about the tenant signing an estoppel, but nothing about the seller signing one.

I would appreciate very much if you can elaborate on seller estoppel. Thank you

I am buying a tenanted multifamily and some tenants are without leases. Does that cause any problems to me? and what if they refuse to sign leases? Please advise.