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If this property has been milked to death by a relative and your doing the same, then at some point you risk not being able to insure it. Real property needs regular maintenance in order to be insurable and given where it is it may not even be transferable.
Take less trips to Disney Land and Hawaii and spend one year working on properties and staying focused on business. Thats how you do it . The maintenance and repairs will only get worse and worse with each year that passes.
A lot of properties in SF are old and hasn't been updated. If not broken, no need to fix. Besides I rent the commercial in as is condition and tenant should update according to their business.
That's wonderful Fernando but the insurance company doesn't give a s**t. The want to insure properties that are maintained. If they aren't maintained their risk goes up and in this current climate here in California, they are giving the beaters the pass. Plus, you made a previous claim due to lack of maintenance which means you're dead to most of them. Good luck and giddyup.
Please do.
we already have the highest gas tax in the country. most of pa is rural, those people don't count, maga country.
yea self insure, and make your tenants have fire insurance for themselves & you. have a fire insurance rental cost escalation clause in each tenant's rental agreement. hey glen, what do you think?
He doesn't have any money, how is he going to self-insure?
I criss-crossed the state in 2010,2011, and 2015. Their roads are about average of the ones I was on. Illinois OTOH had orange barrels everywhere all three trips. Kentucky will win no prize and Tennessee from AR to Nashville a few years back was a gloomy trip along I-40. Heavy traffic and the trees had grown heavy on each side. New Mexico was never going to make "Roadmaker of the Year" either.
He cant do that he has a Big Mortgage on it and lender requires Insurance . Also California is not a "as is" on certain repairs and maintenance like Roofs, Main electrical , plumbing etc. He does not have Tripe Net Lease with Wal Mart. He has poorly written hand filled leases made to high risk poor tenants, One operating as a Fortune Teller , a Taco Vendor, calling themselfs a restaurant a insurance broker who has not paid rent in a long time and possible a tenants also few living in the building. I have no idea how to resurrect his problems . I got out of Slum Lording after Uncle Billy and I sold our Dead Hooker Motels in 1985.
