Insurance for 100-year properties

[Dan Z.]

Hi club friends,

I'm an investor from Portland, OR. Right now I'm crunching numbers for a 5-plex built in 1890. Everything looks promising except that I can't even get an insurance quote for this building. I've contacted multiple brokers and they all tapped to their professional networks but none could give me a quote (AAA, farmers, travelers, etc). 

The building has been renovated from inside out, including roof, siding, electric wiring, and so on. All units are up to the standard. 

I know in downtown Portland, there're lots of properties with 100+ age, and people flip and sell (or rent) them with incredibly high price. So there must be some way to finance rental properties with such an old age. 

Anyone can help?

[Kathy Henley]

@Dan Z. Search for an insurance broker! They invite everyone to the party.  I invest in St. Louis and use a commercial broker to find the right coverage, as the brick buildings were built around 1904, plus there is a bit of crime.  The underwriter of my first two buildings is Lloyds of London -- who insure anything.  This year's duplex, built in '05, 1905 that is, is underwritten by Cincinnati Specialty Underwriters Insurance Company, of Cincinnati, OH.