Donald Stevens

Example of a Builders Risk policy offered by our agency.

*We can provide builders risk policies for new home constuction or a complete rehab job.

More of a question than a blog post but I am new to real estate and need some help. I have websites on other topics that have done well but now I am looking for someone with some expertise in building real estate websites. I am looking at building a website for myself to drive business and generate leads. Anyone use a good company that creates good organic search engine friendly websites? I have three websites I need work on. http://www.applyforashortsale.com, http://www.myrealestatenerd.com, and http://www.mydetroitpropertymanager.com. Thanks for the help.

We're Looking for Bloggers to Write About Mortgages, Loans, and Rates, Real Estate, and creative investing! We want the traditional funding updates as well as new and creative ways to fund and find real estate.

If you are a lender, real estate agent, or mortgage blogger and are interested leveraging our website and content to bring more attention to your product, service, or website, please get in touch with us! We would like to build a place for search engines to point to so consumers and investors can get access to great information. One blogger can create a good blog, many bloggers can create a powerful, content rich blog that points all over the Internet to websites including yours. By unionizing our voices we can build a blog worth reading that becomes more search friendly and points to your website which gives you more prominence. Please let me know if you are interested.

Visit our blog at http://blog.mylandlordinsurance.com. If you have a blog we would love to add content to yours too! Content rules on the Internet.

Plagiarized from my blog at http://blog.mylandlordinsurance.com. I have abbreviated the post here. For the full blog please visit my.., well.., blog. Thanks.

Different types of homes require different types of insurance. How the home is built will determine what type of insurance you can buy, how much it will cost, and what it will cover in the event of a loss.

A site built home is a house that has been built where it stands. The house is built on site from the foundation to the roof. This is the most common type of home people think of when they think of a house. A traditionally built home will usually appreciate in value over time.

The manufactured home is built differently from a traditionally built home. A manufactured home or mobile home as it used to be known is built in a factory. The house is built with a permanent steel chassis which is why they are commonly known as mobile homes because they are more easily moved from place to place. A mobile home also usually has a title like a vehicle rather than a deed like a home. The home has to conform with federal HUD guidelines but usually doesn't have to conform to local building codes. Manufactured homes tend to decrease in value over time.

A modular home also known as a prefabricated home or prefab is a hybrid of a site built home and a manufactured home. It is built in a factory like a mobile home but it does not have a permant chassis. The home is brought to the building site on a flatbed truck. The home also has to meet all federal HUD, local, and state guidelines for a traditional built home. Modular homes when built well increase in value similar to a traditional built home.

When it comes to insurance, many companies do not write manufactured homes. They are built on a chassis which means they are mobile, they do not have to conform to local building codes, and they decrease in value over time. There are a few companies that specialize in manufactored homes and can be very comparable in rate to a traditionally built home. You should look for a company that provides coverage for fire, wind, hail, vandalism, water, and liability. Also find out how much the insurance company will pay if you lose your home completely.

Many companies that will write a traditional site built home will also write a modular home. Since they conform to all local codes and appreciate in value, they are have a similar risk profile to a stick home. Some companies may not write a home if it was built in a factory so check with your agent to be sure you will be covered in the event of a loss.

The most difficult to insure is a manufactured home that is rented to another person. It can be very hard to find a company that will write a landlord policy on a mobile home. We can write all of these homes and we would be happy to try and write your business if you give us a chance.

Reprinted from http://blog.mylandlordinsurance.com.

There are a lot of investors looking at Detroit as a great place to buy cheap real estate. The thinking is if you can purchase a home with renovations included for $35,000, you can quickly turn a profit. Most homes in Detroit are brick, beautiful, 2 stories, and usually over 2,000 sqft. As a section 8 property the going rental rate is between $1000-$1400 a month. That is roughly $12,000 a year. In three short years the property would be paid and any future rental income would be 100% profit with the property having a resale value of about 50,000 if rented with a good tenant. Sounds great.

There's few problems with this plan:

(Summarized)

Insurance and Taxes

27% of homes are vacant

Lack of employment opportunities

Solution:

Rebuild City from Center. Consolidate public resources and reduce supply by demolishing vacant homes.

To get a more detailed description please read our blog. http://blog.mylandlordinsurance.com