All Forum Posts by: Sergio Smiriglio

I just purchased my fifth multifamily asset all between 3-4 units. My current insurance provider that i use for the first 4 buildings as well as my current home and my umbrella insurance is unable to cover more than 4 investment properties per individual. I found this out in the process of purchasing the last property so i went with a third party insurance company for a reasonable rate however now im having issues not being able to add this property to my umbrella policy and the quotes im getting for umbrella policies from other providers are significantly more expensive. So my question is what have you found to be the best way of insuring a portfolio of properties like this? Are there other insurance products im not aware of that are more cost effective? Im happy with my current landlord policy + umbrella its just that i cant add the 5th building to this structure so im not sure what to do from here. Any advice on carriers would also be much appreciated. All properties are located in Northern New Jersey.  

Hello All - New to the site. I am a current investor with 5 residential only multi family buildings (17 apts and 7 garage/storage units). I am conservative when it comes to investing and have only used 30 year fixed mortgages in the past. Im looking for more creative ways to think about financing my units because even today im being quoted 4.5% on a 30 year fixed loan with treasuries where they are currently trading, just seems insane to me. Outside of increasing my duration risk (ARM's and IO type loans) are there any ways to lower my financing costs? Has any one used any instruments in the past where you bulk finance a portfolio and get a discount on the rates? Is there even such a thing for Residential loans or does that only exists in commercial mortgages and therefore paying more and essentially increasing duration risk at the same time? Any thoughts would be much appreciated.