Hi guys,
Really appreciate the input and help so far!
I am currently bidding for three properties in three different areas at the moment, so if all goes well in the next 2 weeks I will have purchased three properties!!!
What I am wondering is if anyone has come across the capacity to generate some benefits from owning more than one property in particular with regards to obtaining insurance for all of the properties in your portfolio at a lower rate than the sum of them individually etc?
Would be really interested in seeing the possibilities of this as these incremental savings all add up!
Thanks,
How many unit are you purchasing? How will you hold ownership in these properties (personally, LLC or other)? What types of properties are you purchasing and how long do you plan on holding on to them? Just need a little more info to properly give my opinion. Thanks!
Personally, since couldn't get finance as an LLC and they are Single family homes. Hold for the long term 10-15 years.
Thanks Kyle
Kyle,
Depending on where you are purchasing, you can save money on insurance, management etc.
What you’ll find is that most insurance brokers are only licensed to broker policies in one state, so if you own properties across several states I think it might be difficult (we own large quantities, and our discounts generally don’t transfer from one state to another) to obtain any preferably treatment, even if the policies come from the same insurance company.Good luck with the bidding!
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