All Forum Posts by: Jordan B.

Hello,

Does anyone have a home insurance policy with Keystone National Insurance Company? I received a great quote from them but dont know of anyone who has used them.

Thank you,

Jordan

@Jordan White @Will Gaston @Account Closed

Thank you all for the detailed responses. This will help me a ton.

@Nathan Letourneau thanks for the suggestion. How old are your properties? I was told that rates are significantly higher once a property hits 100 years old.

@Shawn Ackerman @Owen Dashner I believe this was for replacement cost. Just to give some perspective the house is under contract for 75K which is close to what it is worth.  

In this situation what kind of policy would you try to get that would provide sufficient coverage yet have a reasonable premium that does not eat into cash flow?

@Scott Schultz how old are your properties? The kicker in my situation is that it is well over 100 years old.

Hello,

I just received a Landlord Insurance quote from Liberty Mutual for $2,707. Does this seem high?

Background:

2-Family Built in 1896

Located in Cincinnati Ohio

Updated Plumbing and Electrical

I will not be owner-occupying the property

What insurance companies should I try next and what questions should I be asking?

Thank you,

Jordan

Hello,

I just received a Landlord Insurance quote from Liberty Mutual for $2,707. Does this seem high?

Background:  

2-Family Built in 1896

Located in Cincinnati Ohio

Updated Plumbing and Electrical

I will not be owner-occupying the property

What insurance companies should I try next and what questions should I be asking?

Thank you,

Jordan

What you are looking at is a sagging concrete porch in the front of a house. I can see daylight through the crack from the basement. Anybody have any idea how to fix it and how much it would cost? Thank you!

@Filipe Pereira Awesome story! I am 22 years old and am looking to do something similar to what you did.  I have a few questions...

1) How much did you save as a cash reserve after putting down the initial 40-50k down payment?

2) How long were you actively looking for your first investment before finding it?

3) How were you searching for your deals and specifically how did you find these two?

Thank you for your time and I look forward to hearing what you will do next!

-Jordan

Hello BP!! I have finally found a deal that just about makes the 2% rule (1.79). Please give me your opinion on the deal and if you would purchase it? If not, at what purchase price would you consider it a good deal? Here's the numbers...

Asking Price : $89,500

Gross Rent: $1,600 (4, 1-bed/1bath units)

Mortgage Payment (Principal and Interest): $363

Other Fixed Monthly Expenses (utilities,taxes,insurance): $450

Vacancy: $160

Repairs &Maintenance: $160

CapEX: $160

Future Prop Mngmt: $160

Total Expenses: $1,452

Monthly Cashflow: $147

COC ROI: 6.33%

Thank you for your responses.

-Jordan