My mortgage increased earlier this year as my home owners insurance went up due to the company closing and my escrow didn’t have enough to make up the difference so I’m kind of pay check to pay check right now.

Can you suggest an insurance company and contacts for our rental houses?

I’m talking about getting thorough with expense estimates, factoring in property taxes, insurance, and a cushion for maintenance.

  $31k after tax annual income - $11k rent = $20k or $1,600 per month net income left to cover all other expenses (utilities, cars, insurance, groceries, kids, activities, etc.).Median household income for 38128 is $41k or $36k after tax

This is accomplished with an excellent team around you including an investor friendly Realtor who ideally is an investor themselves, property inspector, property manager, insurance agent, and asset protection and business attorney.

Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000

I’m told taxes and insurance is lot and will rise each year and cash flow is hard to come by.

Companies are having to set aside a certain percentage to cover the Cap Rate insurance and as an abundance of caution with these interest rates- class B are paused.

Insurance.

Originally posted by @Alfredo Martinez:Hello, I am a contractor licensed and insured in New York & New Jersey.