Beginner

Hi, I am new to RE investing. Just wondering what the best way to start in commerical? What is the best way to get financing? I have an LLC for residential props, can I use that for commerical? Thanks, Mike

Comments(7)

  • ahimon20th June, 2005

    I usually insure for the mortgage amount or my replacement cost (your insurance broker will give you this number) if I feel the property my be at risk.

  • cjmazur20th June, 2005

    talk to local contractors too.

  • karensilver21st June, 2005

    $95 sounds cheap. Keep in mind there is alot of value in land nothing should ever happen to the land.(I am assuming you are not in a area of sinkholes) If the structure ever got destroyed you would have to pay about 10K to remove it.

  • Cornell8121st June, 2005

    After calling 3-4 other insurance brokers who did not return my call, I went with $95/sf. This has been an interesting pursuit. One would think brokers would want more customers with 4-5 properties and growing.

    Thanks for your help.

  • norrist25th June, 2005

    With many carriers not writing new business in FL, it will probably be tougher to find an Agent interested...

  • Cornell8125th June, 2005

    I finally got some responses but that would explain the apathy/reticence. These are local brokers so I cannot imagine that they would not want to pick up half a dozen properties in one swell foop.

    One broker actually had the audacity to tell me that he did not want to work with me if all I was going to do was shop for insurance. [ Edited by Cornell81 on Date 06/26/2005 ]

  • norrist27th June, 2005

    Auto and financial services!!!

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