All Forum Posts by: Lovorn Brown

@Matt Moylan thanks for the sound advice. We are looking to purchase two duplexes in the next 60-90. I will look into an insurance broker. Thanks again

John thanks for the reply, I have been doing some research. Although the aggregate liability is 2 million, and some of the coverage is equal, there are some coverages that are better under the personal policy i.e. fair rental value, and lack of water backup. Also the commercial policy does not have other structures coverage. 

We currently have our property insurance combined with our personal insurance. It is insured as rental property, and is also covered under an additional umbrella policy. Recently I talked to another insurance agent who is telling me we should really have the rental properties under a "commercial insurance plan". Currently we have four properties which includes: two single family, and one attached townhouse, We were looking into a second duplex. At first glance the commercial policy seemed to save money, and increase cash flow, but as I look closer I have concerns.  DO any of you have a commercial property for your rentals and if so are you happy.  Please Help!!!  Thanks

Seemed we would be bringing in $170 per door.

We are new at this, our greatest  concern was it seemed we’d be not be bringing in about $170 per door. Thanks for the feedback.

I found a 4-plex, seller asking $140K; currently has renters, and monthly rent is $2600. Landlord is paying water and sewage. Taxes last year were ~$1800, and I'm hoping to find insurance for $3000 or less. Taking 5% for vacancy, CapEx, and repairs, plus 10% for property management, using the bigger pocket calculator shows cash flow as about $700. The house was built in 1956, not in the greatest neighborhood, and probably doesn't have great appreciation potential. That's it, is this really a good deal?

@Hai Loc

Try ed2go.com the beginning real estate course is great, take the instructor led version for about 100 dollars.