All Forum Posts by: Tadek Stadniczuk

Jason - Thanks.  Yes that quote was combining them together.  Are you saying the duplex has a minimum or the combined policies have that minimum?  

Are you able to give me a quote?  

Thanks

Hello - Can anybody recommend reasonable insurance companies for a duplex rental property?

I currently have my other property (single family rental) and my home owners through Liberty Mutual and the rates are decent.  But for my new purchase they quoted me $2400 for it! It is a 1700 square foot duplex that I am buying for a measly $45,000.  

I also ran it through Travlers insurance and they quoted $1200.  That's better but I expected around $700 or so.  My other rental is only $600 a year.

Anybody have any recommendations?  Thanks.

Just an update on my situation with the credit union.

They removed the condition of making them my PFI after I explained to them I would like to fund more properties with them in the very near future....as long as they remained easy to work with.

They rephrased the condition into a "request" and ordered appraisal on the property today.

Chis - I appreciate your response.  Yeah, I figured it was not illegal but thought it was strange because I have never experienced it before.  But from the sound of your post...it seems like a pretty common practice with credit unions.

Anybody else experience this?

I am a member of a credit union.  I have a couple small accounts with them and one investment property loan.

I am under contract to purchase another investment property and have applied for financing for that property with that same credit union.

They are telling me they will approve the loan only if I move my main accounts from my other bank to them and make them my "Primary Financial Institution".

Has anybody else ran into this?  It seems rather unethical or simply strange that I am approved but only if I move all my larger accounts over to them.

Any thoughts or comments on this?