All Forum Posts by: Chad C.

I can pay in the next 2 or 3 days, but I will be paying a greater % and thus losing equity in this deal.

Hi BP,

I am a RE investor.  I bought and closed on my first property (6 units) in Nov.  And now I am looking to close on a 2nd property (6 units) in April.

I bought and funded the rehab on the 2nd property with cash for $85.6K.  I am supposed to refi and close 4/11 or 4/12 with the bank & title agency.  

But I got myself in a pickle and my drop dead date is 4/12 @ I need to repay the original investor within 24 hrs.

Just wondering if the BP community can direct me to a hard money lender who will be able to lend in such a short notice.

Thanks and much appreciated.

thanks BP. I am trying to get a DUNS number but the girl on the phone wants me to pay $1399. I told her no and now she offers up a $800 package for a limited time. Will take everyone's advice and just get a DUNS number without paying any extra. Thanks!

Hi Jared,

Can you add me to your buyers list as well?

Thanks,

Chad

Hi BP!!!!

So I finally closed on the on my first 6 unit MFR in the beginning of Nov.

I wanted to give @Jason Bott and his team props for helping me out tremendously by finding the lowest insurance company for a 6 unit.  

At the time I had quotes ranging from $5K to $7K... He was able to reduce it by greater than 49%-63% of what I started out with.  FREAKIN' AWESOME!!!!

IF you ever need to find the lowest property insurance... Jason Bott is the go to guy.  He has the vast knowledge and best connections to help anyone reduce their property insurance in both commercial and residential RE properties.

Here is his contact info:

Jason Bott 

Vice President 

Robertson Ryan & Associates, Inc. 

330 East Kilbourn Milwaukee WI 53202 

Office 414-270-6834

Fax 414-271-0196

[email protected]

Cheers!

I meet the tenants next week but I am sure they are not subsidized. 

Roof was upgraded 2007

100 amp 

No pets

Yes balconies  

Yes on smoke detectors    

Thanks

Chad

purchase price is $155k, what are they insuring at?

Sq/ft?  4300

Age? 1941

Do you want Replacement or ACV? Looks like Replacement @ $542K

Circuit breakers? Yes

Hardwire smoke detectors, sprinkler, or any other safety feature? Yes

About $155K

Hi BP!

Ok... Sooooo..... I am currently in the process of getting a 6 unit apartment complex in Ohio and starting to try to get some quotes from several different insurance companies.

I have a range from $5K - $7.5K.... Just wondering if anyone agrees or thinks this seems reasonable for a 6 unit apartment in Ohio?

Thanks,

Chad

Thanks @Darryl Dahlen.

I found a 80% but 20 yr.  I am still looking for an 80% + 25 yr.  :)

Thanks again
Chad