Do you require renters insurance?

Ask me privately.Financial Highlights- Gross Potential Rent: $98,061 per month ($1,176,732 annually)- Total Income (5/1/2023-4/30/2024): $1,357,459.80- Net Operating Income: $896,896.09- Existing assumable loan: $6.7M at 5.38% fixed rate until 2029Value-Add Opportunity- Partially renovated property with potential for further upgrades- Current loss-to-lease suggests room for rent growth- Opportunity to implement operational efficienciesMarket Dynamics- Huntsville's population grew 9.4% between 2020 and 2023- Strong job growth, particularly in aerospace and defense sectors- Significant multifamily supply growth (15.9% inventory expansion in past year)Investment Strategy- Assume existing favorable financing- Implement value-add renovations to drive rent growth- Capitalize on Huntsville's robust economic expansion- Target hold period: 3-5 years to align with loan maturityRisks and Considerations- High market-wide vacancy rate (17%) due to recent supply growth- Potential for market softening due to rapid inventory expansion- Property age may require significant capital expendituresThis opportunity offers a blend of stable cash flow from the existing operations and upside potential through strategic improvements, all underpinned by Huntsville’s strong economic fundamentals.ⓘ This is not an offer, solicitation of an offer, to buy or sell securities.

There is 1 catch and 1 only that can lesson this requirement.

Your long-term income depends on whether the investment city attracts new companies that create replacement jobs with similar wages and skill requirements.

I'm planning on putting 25% down because that is a requirement of the loan.

There is also a huge amount of strategic and legal expertise across many states in getting non-performing notes to “re-perform” and be sold, perhaps to someone like you.Performing loans don’t require anywhere near the same amount of work or expertise but typically involve a lot more capital per loan.

While I understand market trends, negotiations, and deal structuring, I know that becoming a successful investor requires a different mindset and skill set.I’m here to learn from those who have been in the trenches—whether it’s flipping, BRRRR, multifamily, or long-term rentals.

Thanks The older homes usually require some sort of updates to the plumbing/electrical to get a decent rate if you are wanting replacement cost.

It may require different insurance too..

Be patient and persistent when it comes to real estate investing; it's a journey that requires time and perseverance!