All Forum Posts by: Jacob Koshy

Quote from @John Warren:

@Jacob Koshy I can introduce you to my insurance guy. He does all of our buildings and they are all from the 19202-1960's, so similar produce here in the Chicago suburbs. 

That would be great if you could share his contact. Thank you

I am under contract for a mixed use building with commercial business tenants and apartment units to be purchased under an LLC. I have reached out to a few providers and agents and have received different opinions on the type of policy to purchase. What type of policy should I consider. Landlord policy or a Business Owners Policy (BOP). Or if there is any other type I should be considering. Thank you.

Quote from @Jason Bott:

@John Mocker thanks for the mention.

@Jacob Koshy I'm live in WI, but we have several office location i Chicago.  I'll send you the list of insurance carriers that do well with mix use locations.  There are some specialty insurance carriers that really like the older joisted masonry buildings in Chicago.

Thank you, if you could please let me know the insurance carriers that would be great

I am under contract for a mixed use building with commercial business tenants and apartment units. If anyone have any recommendation or suggestions for a building insurance agent or a provider.
Also if you have any advice.

I addition to the property insurance should I consider getting an umbrella policy.

Any suggestions would be greatly appreciated.

I have an accepted offer for a bank short sale in the SW suburbs of Chicago. When I initially made the offer I put in the financing conditions based on my pre approval. Which is with a 25% down payment. While I was waiting to hear back from the bank I was able research and get pre approval with only a 15% down payment. Now what can I do if any, to get the bank to agree to my 15% down option. Would it be a hassle and scare away the bank or what have your experience been. Thank you.