Real Estate Investing

Tricks to make it Big with Real Estate Investing

Real Estate Investing is one of the most attractive ways of making large amount of money in a short amount of time (if done correctly). Moreover, Real Estate Investing can be very stressful but if you make a mistake it can be very forgiving. When you see the rewards of your efforts it can be very satisfying and addicting.

Real Estate Investing is really a skill and, like any skill, it takes time to master. The main objective is to buy low and sell high and make a profit after paying all the costs involved in the transaction.

Back Porch of 167 NW 23rd Ave. Duplex

Generally, people are of the opinion that Real Estate Investing makes sense only when the market is on the rise. However, Real Estate Investing for profits is possible just about any time. You just have to know when and how to apply different investing strategies when the acquired deal parameters are analyzed. This is part of the Due Diligence process that you will acquire through Real Estate Investing experience.

Here is a list of tricks that can make Real Estate Investing profitable for you:

1. Join a local Real Estate Investment Club. Their name usually end with "REIA" which stands for "Real Estate Investor Association" so MREIA would stand for
   Miami Real Estate Investor Association.
   
   This will provide many advantages and cut done on the learning curve. I like to use CRE Online web site to find an local investment club near you.
2. Look for public auctions, divorce settlements, foreclosures (bank REO's/FHA/VA). Since quick settlement is the preference here (and not price), you might get a property at a price that is much lower than the prevailing market rate. You can then make arrangements to sell it at the market rate over a short period of time. However, make sure that the property is worth the price you are paying. Also be Very Careful with auctions! Know what you are buying by doing your homework. You might end up buying an easement that you can’t build on or a second mortgage.
3. Looking for expired listings. The old listings that are still unsold may provide you with good Real Estate Investing opportunities. Just get hold of an old newspaper, MLS expired listings and call up the sellers. They might have given up hope of selling that property at all and with a bit of negotiation you can get the property for a real low price.
4. Bathroom needing rehabbing badly!
   The hidden treasure or Distressed Property. A really old, high grass, mail coming out of the mailbox, dirty, unpainted looking house may scare off retail buyers but this might be your chance for Real Estate Investing that can yield good profits. Explore these properties and check if spending a bit on them (rehabbing them) can make them shine. You can get these at very low prices and make a big profit in a short time. Have a GOOD contractor lined up if you decide to rehab a property. Time is Money!
5. Team up with attorneys: There are a number of attorneys who handle property sales on behalf of sellers or in special circumstances (like the death of the property owner - Probate). They might sometimes be looking to dispose a property rather quickly for a lower price. Be the first one to grab such Real Estate Investing opportunity and enjoy the profit.
6. Keep tab on the newspaper announcements! Be prepared to act quickly. This means have CA$H on hand to act quickly! Property sell offs due to deaths, divorce settlements, immediate cash requirements and other reasons are frequently announced in local newspapers or on the internet (Craig’s List). Keep track of such Real Estate Investing avenues.

Education

These are all great tricks and tips but the most important objective is to invest in your education. Take every opportunity to absorb Real Estate Investing techniques by hiring a mentor or coach to learn from the Pain of Others! Look at any profession and you will see an entity, person / coach or a system involved to train individuals to be successful! Real Estate Investing is no exception!

Related Links, Blog Postings, Presentations or Articles:

• Due Diligence Help!
• Rehabbing a Property Podcast Part One.
• Hash Tags: #REI and #RealEstateInvesting
• Profile + Tags: +Real Estate Investing
• Real Estate Investing Tip: Add RedFin.com to see what your investment property is worth before you purchase.

Written by +Bob Burns.

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Yeah Baby! +Real Estate Investor about.me/RobertKBurns Tel #: 305-586-5280 sec8@planocho.com

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Florida's Mortgage Components

The components that make up a Florida Mortgage

I was surprised to find out most people, who are home owners or my students, do not know what their mortgage consists of! Biggest financial transaction of your life and you can’t recall the interest rate that you are paying? As the sports analysts say – "C'Mon Man!"

One of the questions I ask my Real Estate Mentoring Students or Clients, what are the three parts of a Florida Mortgage? Most say the mortgage and stop with blank stare? So today I am going to discuss the three parts that make up your Mortgage in Florida. They Are:

1. Note
2. Mortgage
3. Deed

That is why you have so many papers to sign at closing!

Note or Promissory Note

A note or Promissory Note can be drawn up using a template you bought in Office Depot! It is real simple! A note is contract or document signed by the people who agree to pay the debt. It doesn't have to be you! It is anyone willing to pay back, usually with interest and terms, a debt that has been incurred.

In real estate, it is typically a borrower or buyer agreeing to make monthly payments of principal and interest over 15 - 30 years to a lender, usually a bank but it could be an individual. (Good Cash Flow Strategy!) If the borrower doesn’t pay, the LENDER can sue "under the note" for breaking the contract. Usually in Real Estate, the property serves as collateral if there is a breach of contract.

Mortgage

A mortgage is document that transfers interest in property. While a mortgage is tied to the debt created by the note, it is not a promise to pay the debt. It contains language which gives the lender the right to take back the property if the borrower/buyer goes into default and doesn’t pay under the terms of the note signed. In other words, what will happen if you breech the Promissory Note.

Deed

A deed is the document that passes the TITLE from the grantor (Seller/Owner) to the grantee (Buyer/Future Owner). There are two basic types of deeds.

• Quitclaim Deed - passes whatever title or rights the grantor (Seller/Owner) has in the property to the grantee (Buyer/Future Owner) without any warranty.
• Warranty Deed - contains promises made by the grantor (Seller/Owner) about the title or rights conveyed. In other words, he is warranting a "Clear and Marketable Title."

A deed must contain legal description of the property and must be signed in front of a notary public in the State of Florida.

A title is the bundle of legal rights the owner has in real property or asset. In other words, the title is the ownership of the property.

P.S. Make sure you sign all documents in Blue Ink and the mortgage is recorded at the Clerk of Court office.

Written by +Bob Burns.

Related Links, Postings, Presentations or Articles:

• Real Estate Funding Contacts.
• Bank REO Listings
• Hash Tags: #mortgage #title #deed #note #promissorynote #floridamortgage #RealEstateTransaction #QuitClaimDeed #WarrantyDeed

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"The only thing more expensive than education is ignorance" - +Benjamin Franklin! +Real Estate Investor about.me/RobertKBurns Telephone #: 305-586-5280 email: sec8@planocho.com

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Florida Sun Shine Real Estate

Selling Sun Shine Real Estate

"Florida is where the Sun Shines" - you must have heard this many times. Moderate/warm climate (Yeah Baby!), famous beaches like: South Beach, Crandon Park-Key Biscayne, Coco Beach, Ft. Myers Beach and entertainment venues: Disney World, Epcot, Key West, Lighthouses, make Florida Real Estate very attractive. So that means Florida Real Estate or buying a house in Florida is really good for someone who wants to escape weather elsewhere in America and also add to his/her enjoyment through the Keys, Gulf Coast, Miami Beach and Orlando theme parks.

Ft. Myers Beach, North End of the Island

However, Florida Real Estate is also attractive for Real Estate Investors i.e. people who would like to treat Florida Real Estate as an investment avenue for making profits. Hello! With the property prices rising as much as 25%, Florida Real Estate makes investment sense too. That is one reason why Florida Real Estate is so sought after. If you wanted to look for a really good deal in Florida Real Estate, you should start with looking for places that are still in their development phase i.e. places where the real estate prices are not so high but are expected to go up in the years to come.

Sanibel Island Lighthouse

Florida has a ton of development going on in various phases! This is generally a good option for people who are looking to pick up Florida Real Estate as an investment option and/or want to live in the property later on. This is also good for people who are looking for Florida Real Estate or a house in Florida to live in by themselves but don’t mind a bit of inconvenience that is generally associated with a newly developed (rather developing) area. As far as looking for Florida Real Estate listings is concerned, you first need to decide on what location in Florida, Gulf Coast, East Coast, Pan Handle,

Key Biscayne Beach Boardwalk

Keys, is suitable for you. Again, this will depend on your reason behind going for Florida Real Estate. If you are going for Florida Real Estate purely for investment purposes (you don’t actually want to live in there for now), then you should really be looking for places where the prices are significantly low but are rising or expected to rise in near future. One indication for expected price rise is the influx of a lot of businesses (Home Depot, Walmart, McDonald's) in the area. Industry/business generally propels development in the area and hence causes the real estate prices to go up. Of course, distress sales, public auctions, bank foreclosures, tax deeds and certificates, buying paper are evergreen opportunities that are available in any place at any time and you should always explore them. If you are going for Florida Real Estate for personal use, then you would be looking at a number of different factors which would basically be related to your convenience and quality of life.

So Florida is where the sun shines and that is also making Florida Real Estate shine.

 

Written by +Bob Burns.

Related Links, Postings, Presentations or Articles:

• Huffington Post coverage of Low Income Housing.
• Florida Landlords, If you use Section 8 READ this!
• Hash Tags: #Florida Real Estate #Real Estate Investing #Florida Living
• Profile Tags: +Florida Real Estate Investing
• Real Estate Investing Tip: By checking the number of water meters and electrical meters will tell you whether the multiunit asset is a legal structure.

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"We must become the change we want to see." - Mahatma Gandhi +Real Estate Investor about.me/RobertKBurns Telephone #: 305-586-5280 email: sec8@planocho.com

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How To Find The Right Painter!

A Real Estate Investor can quickly add value by painting the exterior of a distressed property. If you are like us, hate painting (long story), we hire someone.

While painting to add value to the distressed property, dealing with contractors are going to be one of your biggest headaches. Last year over 3,000 complaints and lawsuits were filed against painting companies in South Florida. Remember, you get what you pay for!

Below are questions you need to ask to protect yourself and guarantee the paint job is without unpleasant surprises!

Before - When we Bought It!

Here we go:

• INSURANCE
  • Do they have an insurance policy with an insurance company or are they "self-insured"?
    • Very few moving companies carry genuine insurance. All other painting companies are "self-insured" even though their advertisement might say that they are "insured for your protection".
    Almost There!
    • Estimate should include FREE full-coverage insurance - up to $10,000.
• BONDING
  • Are they bonded? If they are, it should be on their "Certificate of Insurance". Most companies are not bonded. Don't accept any excuses why they are not. You won't be protected.
• BUSINESS STANDING
  • Is the company a member of the Better Business Bureau?
  • If so, call and request a report of their standing.
  • Will they provided you with 3 current references upon request?
• PRICE
  • Ask for two comparison quotes.
    • Get one quote based on your entire job.
    • Get a second quote based on a calculated "real-time" hourly rate.
  • This way we are assured to always get the better price!
Finished - Yeah Baby!
• Do they subcontract their work or perform it themselves?
  • We hired a paint contractor and he subcontracted the job. Job was finished and we paid the contractor. Found out later the contractor never paid the subcontractor. Be careful because you may be liable to the subcontractor.
• Do they offer written guarantees of their work?
• What products do they use?
  • Type of paint and sheen, stains,...
  • Are they environmentally friendly?
  • Types of brushes and rollers.
• Are they specific by providing in writing the job specifics? Like:
  • About which surfaces you want to have painted (walls, trims, moldings, ceilings, etc.)
  • The paint colors and finishes you want used.
• Do they provide a written contract?
  • Review it carefully.
• Dis and re-connect of items as a result of painting?
• Provide references upon request?
  • At least three.

Painting can be a tedious task and as a homeowners and investors ourselves, we understand the concerns and worries that come with it.

Related Links, Blog Postings, Presentations or Articles:

• Good Social Media Site: About.me
• Real Estate Info Videos RSS feed playlist.
• Hash Tags: #realestateinvesting
• Profile + Tags: +realestatepaintingjobs
• Real Estate Investing Tip: Looking for an owner? Look up on the internet the property tax roll data for that asset. The address they have on file is where the tax bill is being sent.

Written by +Bob Burns.

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Why so Serious? +Real Estate Investor about.me/RobertKBurns Tel: 305-586-5280 sec8@planocho.com

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Wait List Opening for Housing Authority of the City of Fort Lauderdale #HACFL

Section 8 #HACFL Opens their Wait List.

The #HACFL is opening their Section 8 or Plan Ocho waiting list as it plans to have a lottery to add 1,000 names to its backlog for the rental-assistance vouchers, which are paid for by HUD.

The application forms are only available via Sunday's Sun Sentinel and Thursday's Westside Gazette and Saturday's El Sentinel. The form copy is available at SunSentinel.com/Section8. The form has to be mailed in. NO EXCEPTIONS.

 

Written by +Bob Burns.

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Sec 8 - Use It or Lose It! +Real Estate Investor about.me/RobertKBurns Telephone #: 305-586-5280 email: sec8@planocho.com

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How to Reduce your Florida Property Taxes

Living in Florida and not sure what to do about your property taxes? Trying to maximize your investment by reducing your annual property tax expenditure?

Great news! Every year in August county appraisers evaluate the assessment for real and tangible property and give taxpayers the opportunity to reduce their taxes by filing an appeal.

Real property vs. Tangible Personal Property

Real property consists of land and any improvements to the land such as buildings. Additionally, any components attached to the land improvements become part of the structure and therefore considered real property. Property appraisers are required to establish the real property tax base for their county annually. In doing so, they use mass appraisal techniques approved by the Florida Department of revenue to determine the just or market value for each parcel as of January 1. Exemptions, classifications, and assessment limitations are then applied to determine the taxable value.

Tangible personal property consists of everything that is in a specific location but not affixed to the land improvement. Things such as furniture, machinery, and fixtures are considered tangible personal property. Inventory and household goods are exempt under Florida statutes.

Every Florida business that owns any tangible personal property as of January 1 must file a return with each county’s property appraiser by April 1. Tax payers have the ability to issue their opinion of value for their personal property by listing it on the property tax rendition. Appraisers will then evaluate the items of personal property and issue an assessment based on Florida guidelines. An automatic $25,000 exemption is applied to every personal property folio.

Truth in Millage(TRIM) Notices

Every year in July and August the Department of Revenue reviews the property tax rolls of each county. This ensures that the tax base established by the property appraiser is equitable, uniform, and in compliance with Florida law. The Department also reviews and approves each property appraiser’s annual budget.

After the review is completed and approved by the Department of Revenue, TRIM notices are issued and mailed out to taxpayers. This notice contains the property’s value as of January 1, the proposed millage rates by each local government, and an estimate of the amount of property taxes owed based on the millage rates. Additionally, the TRIM notice lists the date, time, and location of each local government’s budget hearing so property owners have an opportunity to attend and comment on the millage rates before final approval. After the notice is received, taxpayers have 25 days from the date of the notice to petition the value of their property to the county’s Value Adjustment Board.

Appeal Process

If a taxpayer disagrees with the proposed value listed on the TRIM notice, the taxpayer has the opportunity to file a petition with the county’s Value Adjustment Board (VAB).

The VAB consists of five-members which hear and rules on challenges to a property’s assessments, classifications, or exemptions. The value adjustment board is independent from the property appraiser and tax collector and acts as a neutral party to protect the taxpayer’s rights.

In order to challenge a value or exemption, the taxpayer must file Form DR-486 within 25 days of receipt of the TRIM notice. Additionally at least 75% of the outstanding taxes for the year must be paid in order to get the petition considered for hearing. There is a $15 fee for each parcel petitioned except for contiguous property.

Once the petition is processed by the VAB a hearing date is scheduled. Taxpayers must submit all their evidence for the challenge in value to the property appraiser at least 15 days prior to the hearing date. The property appraiser’s office must then submit their evidence within 7 days of the scheduled hearing. Taxpayers and property appraisers have the ability to reject evidence if proper procedure is not followed by either party.

After the evidence is presented, the Special Magistrate appointed by the VAB makes a determination to fully or partially grant the petition or to deny the petition. If the taxpayer or property appraiser disagrees with the magistrate’s decision, they will have an opportunity to take the decision to circuit court.

Reasons to appeal:

• Opportunity to access the property appraiser’s valuation method.
  • By filing a petition and promptly submitting evidence to the property appraiser office, the county’s appraisal office is required to provide detail information on how they arrived to the value.
  • Taxpayers have the opportunity to discuss with the property appraiser and informally discuss the valuation method prior to presenting to the VAB.
  • Most of the time appraiser’s and taxpayers reach a settlement on the value of the property prior to hearing.
• 10% Cap for future years.
  • Once a property is reduced, by law, the assessment cannot be in excess of 10% for future years, therefore successfully appealing a petition will stabilize the tax expense for future years.
• Low cost.
  • Only $15 per parcel to process petitions.
• No Risk.
  • Unlike other states, once property values are set by the appraiser’s they cannot go up, they can simply go down or if a petition is denied, stay the same.
  • Reductions normally range between 10 -15% of the value assessed.
  • Most tax consultants will absorb all costs associated with the appeal and only charge once reductions are received by the taxpayers.

If you are a taxpayer in Florida, be on the lookout for your TRIM notice during the month of August and secure your opportunity to save from 10-15% in your annual property tax expenditure by filing a petition with the county’s Value Adjustment Board by early September.

For more information feel free to contact me at 305-775-2617.

Written by Mirel Garcia
Senior Property Tax Consultant
Ryan LLC

Posted by Bob Burns.

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You Bite Yours Friends Like Chocolate! Real Estate Investor about.me/RobertKBurns Tel #: 305-586-5280 sec8@planocho.com

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"For Rent" Channels for Landlord's Tenant Funnel

Landlords "For Rent" or "For Sale" Posting Options

One of my mentoring students the other day asked me: "Where can I post 'For Rent' or 'For Sale' on the internet?" He was familiar with the conventional ways but wanted to know what I would recommend concerning the internet.

We have been preaching to our students to create as many channels as possible to produce the desired outcome. In this case, what channel(s) could Landlords use to produce the most qualified tenants for their investment properties.

We gave it some thought and came up with three channels:

• The Retail Classified Market.
• Low Income and Distressed Families.
• Video

We came up with three lists for each channel:

Retail Cla$$ified Market
eBay Classifieds	New York Times Classifieds
Backpage.com	Real Estate Advisor
Facebook	oodle.com
Zillow	Vast
Trulia	Google Real Estate Tools
Yahoo! Real Estate	craigslist
Condo.com	Streetseed Ltd.
HotPads	Enormo
ByOwnerMLS	Local.com
4RealEstateClassifieds.com	Trovit
ByOwner	Rent.com
OLX	GeeBo
American Listed	The Housing Block
Mitula	Locanto
HouseHitz	Gumtree
USFreeads	Adpost
Classifieds For Free	WebClassifieds.US
TheFreeAdForum.com	Yakaz
PennySaver	recycler.com
Claz.org	Sell.com, Inc
Postlets	ListedBy, Inc.
Low Income or Distre$$ed Families
GoSection8	Social Serve
Florida Housing Search.org
Video
YouTube	Traffic Geyser
TubeMogul	Dailymotion
Veoh	Metacafe

As a Landlord, you want to rent your property as quick as possible. These tools will establish a very large internet footprint for selling or renting the Landlord's assets. It is a lot of work but can be very powerful for establishing cash flows.

Have you had any success with an internet service concerning an investment property? If so, we would love to hear about it by posting your success story in the comments section below this post.

Related Links, Blogs, Presentations or Articles:

• List Your Section Eight Properties HERE.
• Hands-On Real Estate Investing Course
• Hash Tags: #SEC8 #landlord #REIP
• Real Estate Investing Tip: Make sure when you are about to sign any real estate contract for a property: Florida FAR BAR, short sale option contract, purchase contract etc...that all parties are there for signature. If the significant other is not present you may have problems later on. By Florida law if the couple is divorced, unless the property has been settled previously (request documentation as proof), both husband and wife are entitled to the property therefore you need both signatures. Your first Question for any deal is "Are You or Have Been married?"

Written by +Bob Burns.

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Serious...You Better Go! +Real Estate Investor about.me/RobertKBurns Telephone #: 305-586-5280 email: sec8@planocho.com

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Obtaining Funding for Real Estate Investing

Unsecured Capital

Finding the funds you need to take advantage of the real estate market can be difficult, if not impossible for most people. If you are successful with finding an investor who is willing to fund you with hard or private money, a significant amount of collateral will be required before you can even get started.

Aurelian Commercial Lending has developed a unique funding program to help fund your real estate investment projects. Mr. John Syron has designed this program to provide working capital for both start up companies and seasoned businesses.

Aurelian Grand Blanc Office

Aurelian is well aware of the challenges small businesses face with both starting the business and maintaining profitability. Aurelian Commercial Lending's founder and CEO, Mr. Syron has ensured that Aurelian has the resources to fund and have access to over $500 million in capital and capital commitments specifically for small businesses.

Aurelian Capital Management

In addition to his desire to help small businesses, Mr. Syron founded Aurelian with the purpose of funding his charity for autistic children. Everyone associated with Aurelian shares this commitment and donates their time and effort to support the foundation.

Since 1980, Mr. Syron has been building bridges that connect the often-disparate worlds of engineering and manufacturing to commercial financing. Mr. Syron is a graduate Chemical Engineer from Michigan State University. After serving as Vice President of a well-known engineering company for ten years, he founded his own company in 1990, Vector Environmental Group Inc. Vector was a large-scale engineering and manufacturing company with a focus on the environment. The aim was to develop new products and processes that could reduce energy consumption and minimize waste in automobile and steel production.

In addition to running his own business, Mr. Syron contributed significantly in the product development, international and domestic market expansion, capital acquisition and commercial financing of numerous Fortune 500 companies.

Our program allows clients the ability to:

• Purchase real estate.
• Pay any sort of fees related to starting a business, there are no restrictions on the money.
• Have working capital to start or expand the business (purchase property, equipment, supplies, marketing and other essentials).
• Pay employees.
• Have a line of credit that can be used to help handle cash flow.

Our programs can typically provide start up businesses and small business with $50,000 - $150,000 in unsecured capital (up to $200,000 is possible -potentially more) and/or lines of credit, which can be used as the client determines. This is per person, so multiple people can apply to obtain larger levels of funding for your company.

For Start up businesses our only requirement is a strong personal credit profile:

• FICO score of 720 or above.
• No bankruptcies.
• No foreclosures or charge-offs.
• No late payments for the past 2 years.
• Not over utilized on credit card debt (must be paid down to 20 - 30%).
• 8 - 10 year history.

We don't require collateral, a detailed business plan, strong business experience, asset strength, tax returns, profit and loss statements etc. to obtain capital. Our only requirement is a strong credit profile or a co-signer who meets the criteria. To determine whether you or your company can qualify for one of our funding programs please complete the brief pre-qualification questionnaire on our website. You will receive a call from a Business Development Officer with your no obligation funding estimate in 24-48. If you have questions that are not answered in the FAQ section or would like to speak to a Business Development Officer, feel free to call us at 800.598.1140, email us at info@aurelianlending.com.

Additional Information:

• FAQ about Aurelian Commercial Lending

Written By:

John Syron
CEO
Aurelian Capital Management
www.aurelianlending.com
8275 Holly Road Suite 2
Grand Blanc, Michigan 48439
800.598.1140

Posted by +Bob Burns

Related Links, Blog Postings, Presentations or Articles:

• Funding Companies
• Acquire Real Estate Funding
• Hash Tags: #funding
• Hash Tags: #hardmoney
• Real Estate Investing Tip: Make sure when a potential client places a deposit for a rental property, you make them sign a document that explains the rules of the deposit, refund or non-refund terms, what it represents, disclosures, etc. Several times I received calls from potential clients wanting their deposits back after you, the landlord, already took your property off the market. Protect Yourself.

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Insurance for Real Estate Investors

Distressed Property Insurance

As our group started out as specialists in distressed properties, one of the problems we came across was insurance coverage for asset and worker protection. We thought if the Bank won't insure it, no one else will. But let’s look at it from the Lenders point of view.

Why would you Insure this Property?

Investors always preach, leverage someone else's money not yours. That's true but Lenders are taking a risk. What happens if an injury occurred on the property or the asset burns down? The Lender is either stuck with court costs, fines, hospital bills or his money is gone due to the lack of insurance. So FYI...Lenders are going to make you insure the property. We rather get our own policy than make forced payments to the Lender's insurance policy.

Depending on your exit strategy, you will eventually need some type of insurance.

Would You Insure This Property?

Below is an outline of some of the coverage’s we implemented while bringing properties back online:

Types of Insurance Coverage or Services

• Builders Risk Renovation Policy - Provides coverage that protects a person's or company's interest in materials, supplies and equipment used in the rehab or construction of an asset should these items become lost or damaged.
• Liability Insurance - It protects the property owner in the event he or she is sued for claims that come within property boundaries. The policy is designed to offer protection against third-party insurance claims, like contracted workers or tenants.
• Windstorm - Most policies issued today DO NOT cover damage from high winds. It is very difficult to get a windstorm rider due to the size of the deducible, ranges from 10K to 15K.
• Flood - Damaged caused by rising water. Broken pipe or hoses causes damage to interior of unit or building. Flooding caused by storm surge.
• Fire, Theft and Vandalism - During rehab you can expect one of these three items to occur. Are you protected from these likely events?
• Insurance Loss Consultants - Provides Claims Representation to Policyholders. If you experience an event that financial hardship will occur, the insurance company is going to use every resource available to limit the payout amount and the policyholder is expecting the repairs to be done with no out-of-pocket expense, including the deductible. Insurance Loss Consultants make sure that the investor receives the largest benefit to which they are entitled under the insurance policy.
• 4 Point Inspection is required if an investment property that your company or contractor is restoring is older than 30 years or being refinanced. Insurance companies will want to check the following four systems before issuing a Homeowners policy:
  • Roof
  • HVAC - Heat, Ventilation and Air Conditioning
  • Electrical
  • Plumbing
• Our Contacts - These are companies that specialize in issuing policies that are going to protect you against the hazards of being a real estate investor.
  • NCF Insurance Associates
    Contact: Fernanda Jorquera
    Telephone #: (305) 446-5474 x 108
  • Miaminspect Inc. Four Point Inspection Approximate Cost: $75.00
    Contact Lazaro at (305) 842-1080.
  • John Galt Insurance
    Telephone 888-686-GALT(4258)
    Ask for Investors Sales Dept.
    E-mail us at: Investors@john-galt.com
  • Strategic Adjustment Services, Inc.
    Bill Coffman
    Telephone (786) 999-6565
    E-mail us at: bill@sasclaim.com

In the beginning of the rehab depending on your exit strategy, insurance might not be needed but you will eventually. Remember, any property has value even if you can't see it. Are you prepared to lose that value if you don't insure it?

Related Links, Blog Postings, Presentations or Articles:

• Acciones de Valores America Latina
• Hash Tags: #insurance #LAFM
• Real Estate Investing Tip: Make sure during a title search that your title company checks for Open Permits. More than once this has hampered a pending sale.

Written by Bob Burns.

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So Raise Your Glass! +Real Estate Investor about.me/RobertKBurns Telephone #: 305-586-5280 sec8@planocho.com

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