Unfortunately, that won't matter as  Fannie Mae and Freddie Mac, the Government-Sponsored Enterprises (GSE’s) that set the guidelines for conventional loans, which most lenders follow for other types of loans, too, require that a condo building’s master hurricane insurance policy provide 100% coverage of the replacement value for the building. 

It seems that rent/value is favorable and easily meets the 1% rule.

GET FUNDING IN AS LITTLE AS 15 DAYS How did you add value to the deal?

This duplex was purchased off-market, bundled with another duplex for below market value (off-market).

Find the group that aligns with your goals and values. 

The below terms are live as of this date, for a rate and term refi (no cash out).From left to right:Points: 1, 1.25, 2.Prepayment penalty: 10 years, 3 years, 5 years.Commentary/review, hopefully this thought process is useful when evaluating offered terms for a maturing commercial mortgage that needs to be refinanced. 

There are so many so be sure to filter by your location. 4) Review Dave Meyer’s The State of Real Estate Investing Report 2024 (in your resource page as a member of BiggerPockets!)

Purchase price: $790,000 TurnKey with added value, expansive 10-bedroom, 11-bathroom home on 4.6 acres, just 20 minutes from Blue Oval Ford in Stanton, TN.

Every different area provides different value!

How did you add value to the deal?