I think we are competitively priced, so most of out tenants have been renewing, but we plan to test higher rents in 2025  for our larger apartment buildings to account for the steep increase in insurance prices.There have been A LOT of new apartment buildings put up recently in the Cedar Rapids metro area, so depending on the class of tenant you have, maybe that could account for some of softening you are seeing? 

The biggest form of energy production in Tennessee today, nuclear power, simply wouldn't exist without many, many trillions in tax dollars to develop, not to mention the government stepping up to insure and protect the plants, manage and protect the waste for half an eternity, and clean up the trillion dollar mess in case of another disaster.

Did your borrowers mention securing your investment with a recorded mortgage or deed of trust, personal guarantees, lender’s title insurance, or anything else?

Second, there is sewer line insurance that the buyer can purchase (literally only a few dollars per month) which they can sign up for if/when the line fails, and if/when it needs replaced.  

My son currently lives in the townhouse b/c he is going to school and works in the area.Since he is young and starting out in life, I would like for him to only cover the basic costs (taxes, HOA, utilities) just enough for me to break even (I believe that will put him slightly little lower than market rent rates). 

Hi Benjamin,Start by reaching out to relocation companies, insurance housing providers, and major employers in the area who may need temporary housing for executives or displaced employees.

When it was all said and done I still ended up being able to pull about 5 to 10k more out of it than I put into it.Current mortgage including taxes and insurance is $1,519 and it's currently rented for $2,546/month.Yes, you can buy a house at auction that you then flip and sell for market value.And yes, I have participated in online auctions.This reply is over a year old, but did you have the hard money lender you were using already in place before you bid?

The home will need some work, but I am excited about it.I would appreciate any recommendations for a reasonably priced insurance company for the unit while I am rehabbing it.

Our cost basis has been accumulating with our purchase price and then the 2 years of major repairs during 2022-2023 as well as taxes, utilities and insurance from '22-'23.  

I purchased my first rental property a month ago and I’ve learned more about real estate and home building in that one month than the rest of my life combined.