Q. In addition to our 2 homes, we currently own 2 houses that we are fixing up. I am wondering if I could get a blanket home owners policy that we insurance our homes as well as the homes that are being renovated
A. You need a "remodeler's builder's risk" on the houses you are fixing up, then tenant dwelling coverage on them when complete. Since the houses would be vacant - I wouldn't count on my homeowner policy to cover them.
Are you going to live in them or rent them out?
You might want to consider a property owner liability policy and then perhaps an umbrella (sold in $1M units -$1M, $3M, $5M) over the general liability.
Just find you a LOCAL independent agent - he should have several different companies with which to help you.
Good luck and I hope this helps!
Are you going to live in them or rent them out?
You might want to consider a property owner liability policy and then perhaps an umbrella (sold in $1M units -$1M, $3M, $5M) over the general liability.
Just find you a LOCAL independent agent - he should have several different companies with which to help you.
Good luck and I hope this helps!
how can you find out who own a certain piece ofproperty?
Q. found a vacant home and trying to find who owns it so i can either buy or rent it. any ideas on how to find it for free online.
A. Your county court house, get their web site or go in person, all you need is the address.
What is the easiest way to buy a home if I already own one to sell ?
Q. I own a condo and am looking to buy a home and sell my condo and use the equity for a down payment.
A. Most people don't find this a problem at all. You are not the only one wanting to sell the property you occupy to buy another home.
You put your home out for sale, and let the seller of your dream home know you want to buy it. If the timing is bad and you can't cross over from one to the other, you can do one of these:
1. Stay in your present home after selling it, but you tell the new owner you will rent it from them for a few months, or even a year before handing it to them with vacancy.
2. Buy the new place and tell them that you may have to take occupancy of the new place without having paid up fully yet, but you are either going to rent the new premises or pay them extra in the sale price. [Amounts to the same thing.]
3. Sell your present home, move out to temporary quarters like with relatives or a cheap hotel or some premises that are vacant because the owners don't live there except in summer or that happens to be vacant for the interval bridging your moving out of your old property and moving into your new property. Let the landlord know it is for a short term lease. The owners tend to charge more rent for short leases.
4. If you are monied, not working at your home because you have people working for you, go abroad and live in luxury premises. Especially to a country whose exchange rate favours your going there. Have a holiday with that rental money you would have to spend back home to do nothing but wait! Go learn a course and upgrade your marketability.
5. If you are at that age when the kids are studying abroad, go visit them with the excuse you have no place to stay and then you know what they are up to. And can continue to bond with them. You can do all these if your new home is cheaper than your old home!
You can call house movers who will tell you the costs of packing your household items and keeping it in their warehouse and charging you rent there, then move them to your new premises.
Your presence helps when the movers are packing, if you see what items are inside the boxes so you can label them: Bedroom 1 or Bedroom 4 or Living Room . Then go label your new home's doors with Bedroom 1 and Bedroom 4 and so on so they know which box to unpack where.
[Antiques you bring yourself to your temporary quarters. My soapstone hope chest had all the soapstone carvings fall off and I was not there to search for them in the boxes they came in because they had thrown it away. My teapots lost their lids. Grrrr! You must remember this when using movers.]
It is always psychologically pleasing to go to live in new premises. One of the fall-outs is that new babies get born each time the parents move house. Wonder why.
You put your home out for sale, and let the seller of your dream home know you want to buy it. If the timing is bad and you can't cross over from one to the other, you can do one of these:
1. Stay in your present home after selling it, but you tell the new owner you will rent it from them for a few months, or even a year before handing it to them with vacancy.
2. Buy the new place and tell them that you may have to take occupancy of the new place without having paid up fully yet, but you are either going to rent the new premises or pay them extra in the sale price. [Amounts to the same thing.]
3. Sell your present home, move out to temporary quarters like with relatives or a cheap hotel or some premises that are vacant because the owners don't live there except in summer or that happens to be vacant for the interval bridging your moving out of your old property and moving into your new property. Let the landlord know it is for a short term lease. The owners tend to charge more rent for short leases.
4. If you are monied, not working at your home because you have people working for you, go abroad and live in luxury premises. Especially to a country whose exchange rate favours your going there. Have a holiday with that rental money you would have to spend back home to do nothing but wait! Go learn a course and upgrade your marketability.
5. If you are at that age when the kids are studying abroad, go visit them with the excuse you have no place to stay and then you know what they are up to. And can continue to bond with them. You can do all these if your new home is cheaper than your old home!
You can call house movers who will tell you the costs of packing your household items and keeping it in their warehouse and charging you rent there, then move them to your new premises.
Your presence helps when the movers are packing, if you see what items are inside the boxes so you can label them: Bedroom 1 or Bedroom 4 or Living Room . Then go label your new home's doors with Bedroom 1 and Bedroom 4 and so on so they know which box to unpack where.
[Antiques you bring yourself to your temporary quarters. My soapstone hope chest had all the soapstone carvings fall off and I was not there to search for them in the boxes they came in because they had thrown it away. My teapots lost their lids. Grrrr! You must remember this when using movers.]
It is always psychologically pleasing to go to live in new premises. One of the fall-outs is that new babies get born each time the parents move house. Wonder why.
What do you look for when buying an investment property to rent?
Q. Any pointers? Like cheap houses to fix up and rent out.
A. If you are going to rent it out , do not put a ton of money in to this property , very few people make anything with just one house , and with the number of people who are defaulting, You will have to choose your tenants carefully without discriminating or that could lead to further legal trouble, my point is the majority of renters will not take care of your property , pipes will leak for months before you are notified , and BIG deal you keep the security deposit , most of the time the damage is more than the deposit , and if they stop paying rent , they get one month behind , most places has a thirty day eviction so that gives them two months rent free , then the tenants retaliate and destroy more , They can be made to fix the damage if you can find them to have them served with court papers , ...All I am saying is do not count on it as investment , because it will cost you more in the long run , NOW if there is a place that has the land you want ,with a so so house , you can do this , and let the rent help you make the payments to pay off the land , normally after 15 to 30 years the home is trashed and really not worth fixing , when the house sits vacant the payments do not , then you will more likely take in the next stranger with the money out of the urgency to rent , I had a friend to do that , the couple was very nice , had nice cars , always paid in cash , one day they were gone , come to find out those nice people manufactured meth in the home , the house had to be destroyed, the makers always look for the least likely place to get caught making that stuff. besides this is not TV , rich people do not rent, mostly those who do not pay their bills and have little or no credit are the ones who rent , Just trying to give you the other side of renting it is not easy nor is it like on TV , If you do this just for the land you may come out ok , but with a head ache , it can be done but it is no where near the easiest way to make money , I hated it when I rented properties , I finally just got out of it , and took my losses as the reminder to never do that again.
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