All Forum Posts by: Jeffrey Albaum

@Ron Burmeister

Thank you so much, greatly appreciated!

Hello BP! I need some help: My business partner and I own some residential properties (less than 4 units each) in the Midwest (greater Cincinnati area) and currently have each on their own residential insurance policies. The buildings are owned by an LLC and we're looking to buy some commercial umbrella coverage for the LLC. Does anyone have any good insurance folks in the Cincinnati/Northern Kentucky area that could help us out? Thank you in advance!

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $126,500
Cash invested: $40,000

Bought with my business partner as a value add opportunity. We rehabbed 2 of the 3 units and brought the rents up to market value. Currently our PITI is about $750, while the total rent brings in ~$2000.

@Bjorn Ahlblad I'm not entirely sure and that's part of the problem, we're going to have to tear open flooring to access the issue to even see what it is in the first place.

Hi everybody! I have an investment property in Cincinnati and was informed that there is some water leakage going on in the basement. I had a structural engineer inspect the foundation and no structural damage was noted. The proposal was to install a pipe with a sump pump in the basement to fix the leaking problem. This plan is quite expensive and I was wondering if anyone had run into a similar issue with a better and more cost effective solution? Or maybe if not, someone who could validate this proposal that it works as well as intended. Thank you in advance and I appreciate all your help.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Cincinnati.

Purchase price: $65,000
Cash invested: $24,000

Purchased a duplex out in Cincinnati, one unit was occupied, the other needed a somewhat substantial rehab. It was great for me to learn how to manage a team from across the country, as well as learn more about the construction process in general.

What made you interested in investing in this type of deal?

From what I've seen, the numbers on multi family properties seem to cash flow at a much higher rate. Also, using economies of scale, it seems like multi family deals usually have higher rents compared to single family homes at the same price point.

How did you finance this deal?

Traditional financing, 25% down and cash to complete the rehab.....had substantial reserves of course! (Thank you @Scott Trench and Set For Life!)