Hi SunnyI am new to real estate investing and I am planning to buy my first investment property in st.louis. 

The rest of the insurance is all replacement cost.

I am getting a RLI personal umbrella policy from an independent insurance broker.

You need to screen them to make sure that they are not wholesalers though, unless that's all acknowledged and you plan on doing a jv.

This deal demonstrated the strength of our partnership with Fred and our ability to add significant value through strategic planning and efficient execution, highlighting Partner Driven's commitment to delivering outstanding results.

The properties are either one street down from each other or are 2-4 buildings next door.Property #1 (Currently live in with my family and I)Purchase Date May 2021Mortgage Balance: $117,898Rate: 3.625%Mortgage payment including escrow: $870.51Purchase Price: $143,000Tax: $3,308Estimate to sell in today's market: $190,000- $210,000 based on current sales in the market this yearHOA: $110 monthly includes Water and building insurance and other maintenance for the propertyProperty #2:Purchase Date:: April 2022Mortgage Balance: $135,756Rate: 4.625%Mortgage payment including escrow: $1,375 (payment normally $1,059 but payment increased due to low balance on escrow because of tax increases)Purchase Price: $148,000Tax:  $4,578Estimate to sell in today's market: $190,000- $210,000 based on current sales in the market this yearHOA: $100 monthly includes Water and building insurance and other maintenance for the propertyRent: $1,400 a month only water is included in rentProperty #3:Purchase Date:: February 2023Mortgage Balance: $118,518Rate: 5.99%Mortgage payment including escrow: $1,315 (taxes have gone up for this property as well)Purchase Price: $132,000Tax: $4,522Estimate to sell in today's market: $190,000- $210,000 based on current sales in the market this yearHOA: $100 monthly includes Water and building insurance and other maintenance for the propertyRent: $1,400 a month only water is included in rentProperty #4: (We were thinking of selling this and take profits but not sure to be honest)Purchase Date:: February 2024Mortgage Balance: $139,408Rate: 6.75%Mortgage payment including escrow: $1,332Purchase Price: $147,000Tax: $4,130Estimate to sell in today's market: $190,000- $210,000 based on current sales in the market this yearHOA: $100 monthly includes Water and building insurance and other maintenance for the propertyRent: $1,350 a month only water is included in rent

Single family units are more than plentiful in this area so that was my target, however,  since our recent encounters with multiple hurricanes, insurance makes it near impossible to even remotely turn a profit as a landlord.  

I may have stumbled upon a great deal but as I am not a professional or seasoned expert like most of you, I thought I would drop the numbers and plans here and see if I’m outside of my depth hereNear Clanton, Alabama I found a 4 acre lot for $100k.

We do not NEED to do the refi but the plan is to eventually do it and remove the other person from the loan.

We learned that persistence pays off, as navigating a short sale can be a lengthy process requiring strategic planning and continuous effort.