All Forum Posts by: Ivan Palagniuk

Thanks David for the input! 

I will try to find and independent agent, and give a call to Foremost ,this is my first day in the forum and I’m so fascinated by the help of everyone, appreciated so much

@Mike Hyder thanks for such a full response , I do agree that telling the insurers about hydrants , age of the property and all these small details can substantially lower the premiums. I’ll try the companies you just outlined , will share with who I end up going with down the road , and terms

Thanks

@Matt Moylan

Thanks for the response ,it actually brings some clarity now ,I’m gonna be just keep looking , will try to find a broker that in the area.

Do you work with people out of state ?

Hi everyone,I wanna ask how you guys insure your real estate and what company to insure with,I have 3 duplexes and 1 fourplex ,just got off the phone with progressive with a shocking quote, wanna ask how much on average insurance would be for each unit .

Also adding an umbrella coverage, by how much will the insurance go up on average, just wanna know where I need to be at in terms of price.

Any references or responses will be appreciated,thanks

Best of luck to every investor

Hello people,I have a question about transferring my properties into LLC name, which I establish way before I go them.I was calling up my banks today to ask them the permission to transfer the properties to LLC name i

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Cudahy.

Purchase price: $120,000
Cash invested: $24,000

Duplex

What made you interested in investing in this type of deal?

Was able to negotiate on the price
The property itself was in the decent shape ,didn’t have to put a lot of money for renovation

How did you find this deal and how did you negotiate it?

I found it on realtor.com

How did you finance this deal?

I reached out to a guy that my friend is working for ,he owns a lot of real estate and other businesses ,we did a land contract for 7 years at 5% interest rate

How did you add value to the deal?

We did some light interior touch ups,refinished the floors,painted walls,cabinets,put new light fixtures etc

Lessons learned? Challenges?

Short term loans are substantially decreasing the cash flow of property

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Cudahy.

Purchase price: $120,000
Cash invested: $24,000

Duplex

What made you interested in investing in this type of deal?

Was able to negotiate on the price
The property itself was in the decent shape ,didn’t have to put a lot of money for renovation

How did you find this deal and how did you negotiate it?

I found it on realtor.com

How did you finance this deal?

I reached out to a guy that my friend is working for ,he owns a lot of real estate and other businesses ,we did a land contract for 7 years at 5% interest rate

How did you add value to the deal?

We did some light interior touch ups,refinished the floors,painted walls,cabinets,put new light fixtures etc

Lessons learned? Challenges?

Short term loans are substantially decreasing the cash flow of property

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Milwaukee.

Purchase price: $250,000
Cash invested: $62,000

Found a deal off market ,the seller was retiring,therefore,wanted to sell

What made you interested in investing in this type of deal?

Because it was an off market deal with under value market price ,where I could come in and add value ,raise the rents by 100 $

How did you find this deal and how did you negotiate it?

I did a driving for a dollar strategy

How did you finance this deal?

Conventional loan with 25% down

What was the outcome?

My monthly cash flow is 800$ a month