All Forum Posts by: Austin James

Yes you can group properties on a combined policy. The issue is the location of your properties. If they are older, its very possible that citizens is the only market for your wind coverage. Nobody wants older hab at the moment in general (around country), let alone Tier 1 or Tier 2 (1st or 2nd county to water) Louisiana. Those combination of factors is deadly to rates/availability unfortunately.

If the market conditions improve, you may be able to get what you are looking for but right now my guess is nobody wants your deals, or at least the wind coverage. You could potentially get somebody to group the xwind (meaning excluding wind/flood/quake etc ) and then just put all the wind with citizens.

Source- myself, I place multifamily insurance nationwide on the wholesale insurance side (my clients are insurance agents) I do mostly larger multi family

What profit per unit can you reasonably expect on small hab deals like 5-20 units? Older renovated construction, no hud housing. I’m talking market rate nothing sketch. Buy and hold deals. With max leverage like 25% down, traditional finance non recourse. Just curious what reasonable returns exist. Is your aim to clear like 150-350 per unit per month?

Frame of reference: I’m new to this, but very involved in multi family day to day (wholesale insurance broker) so extremely good understanding of characteristics besides ownership/operating/finance.
I’m talking sunbelt properties, far away from water or high crime areas.