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Updated about 5 years ago,
Purchase Price $77k. Rebuild cost $880k. Insurance
I purchased a 3 family for 77k. After repairs it will be worth around $150k resale value (TOPS). The insurance company refuses to insure me below a rebuild cost of $880k.
I know this 3 family isn't worth anywhere near $880k, and the insurance premiums are killing me. How do I find a good actual value insurer that will insure to my after-repair cost and not my initial purchase price?