Are you calculating for mortgage, taxes, insurance, repairs, vacancy, property management?

Purchase price is $38,500Rehab is $35,000Hard money loan points Insurance is $1600 for the yearElectric, gas, water bill was $1000+Property taxes- $2,600Arv $160,000Profit- TO be determined Lessons learned- priceless My first deal is about to be under my belt.

If you have a property with $500k liability coverage and a $1M umbrella policy, you now have $1.5M worth of liability coverage.

Also be sure to have both taxes and insurance escrowed to avoid a high price mortgage loan, or HPML https://files.consumerfinance.gov/f/201603_cfpb_tila-hpml-escrow_compliance-guide.pdfBob

When I factor in insurance and property tax my monthly expenses add up to $950.

My day job is a commercial insurance broker (P&C) for a large multi-national brokerage.

I'm having trouble getting a 3 family + storefront commercial property in the Bronx insured.

I don't want to put 3.5-5-10% FHA because the total monthly mortgage including property tax, and home owners insurance can be between $2200-2900 not even including utilities.We do live in southern california so housing prices are high.

I have a accepted offer on a two family in MA with knob and tube wiring, but I'm finding it difficult to locate a company for insurance.

This our first insurance claim, so I’m not sure how this goes.