All Forum Posts by: Ciro LoCascio

I am pretty exciting and looking onto my next investment. I wanted to ask everyone's opinion on this. There's 5 condos for sale for approx. $225k total the condos bring in $3650 in rent roll. There's a monthly fee of $147 per unit which includes water, sewer, insurance, trash and maintenance. Tenant pays electric. Taxes yearly on each condo is $700. I would put be investing with my two other brothers and they would put down $25k each and I would pay the mortgage till I have reached $25k. We can get a private mortgage for $175k at 2.5-3% Do you think this would be a smart move for me? I would not be making anything for the first two years cause I would be putting nothing down. Mortgage would be about $950 monthly. Would appreciate everyones input. thanks

I am pretty exciting and looking onto my next investment. I wanted to ask everyone's opinion on this. There's 5 condos for sale for approx. $225k total the condos bring in $3650 in rent roll. There's a monthly fee of $147 per unit which includes water, sewer, insurance, trash and maintenance. Tenant pays electric. Taxes yearly on each condo is $700. I would put be investing with my two other brothers and they would put down $25k each and I would pay the mortgage till I have reached $25k. We can get a private mortgage for $175k at 2.5-3% Do you think this would be a smart move for me? I would not be making anything for the first two years cause I would be putting nothing down. Mortgage would be about $950 monthly. Would appreciate everyones input. thanks

Hey guys that's for the help. I was able to get an amazing low quote from statefarm and that's who I will most likely go with. Thanks again

The property is a single family townhouse approx 1400 square feet. 3bedroom 1.5 bathrooms. 2 floors plus a basement.

Thanks for the inputs everything. I will keep calling and also check those two recommended companies.

so you consider it rental insurance or landlord insurance?

Hello Everyone,
This forum is so useful. After months and months of reading I finally jumped on my first deal and purchased a property in Delaware. My question now is what insurance company can I go with who will ofer me homeowners insurance on a rental property while not currently having insurance at where I am currently living and will continue to live at? Any suggestions. I called Liberty Mutual and they told me I must have homeowners insurance at my living residence before being able to insure a rental property. I live at home with my parents and don't pay any homeowners insurance. Thanks in advance

Thank you for that info. So today I drove out to Dover,de and viewed 7 properties all sf and it was a great turn out. I just want to be able to find information on the market value of the property and rental rates in a certain area. Anyone know of sites that can provide me with this details? Thanks fellows!

Hello everyone, my name is Ciro L. and I would like to start out saying this forum is full of very useful information and I've been able to absorb most of it. Currently I am a GM of a fitness gym and looking to invest into rental properties. I currently live in Queens, NY and searching the market in Dover,De. My parents have been investing in real estate for over 25 years and own and operate many properties in New York. I am looking to start out with my first property in Dover, DE where taxes are low and I can keep it at a low risk. I actually have a few appointments setup for this weekend. Was just wondering if anyone had any input in that neighborhood and what are some key things I should watch out for. Thanks in advance.