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Updated over 5 years ago on . Most recent reply

Clarence Watkins's profile image
Clarence Watkins's profile image
Clarence Watkins
Pro Member
  • Rental Property Investor
  • from Chicago, IL
  • Member since Sep 12, 2018
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34
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Clarence Watkins's profile image
Clarence Watkins's profile image
Clarence Watkins
Pro Member
  • Rental Property Investor
  • from Chicago, IL
  • Member since Sep 12, 2018
Connect
Clarence Watkins
Pro Member
  • Rental Property Investor
  • Chicago, IL
5
Votes |
34
Posts
Multi-Family and Apartment Investing

Property insurance woes are killing my deal.

Clarence Watkins
Pro Member
  • Rental Property Investor
  • Chicago, IL
Posted

I have a commercial mixed use 5 unit building being refinanced, but the property insurance requirements are killing the deal. There is something about an 80% co-insurance that is forcing a replacement cost coverage of $1.2M instead of an otherwise $200K loan amount coverage. The difference in cost is $12,000 in premium compared to the otherwise $3,500. Does this make any sense to anyone?

  • Clarence Watkins
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