Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago on . Most recent reply

User Stats

46
Posts
19
Votes
Login George
  • Belleville, NJ
19
Votes |
46
Posts

Updating knob & tube wiring -- need help with cost estimation

Login George
  • Belleville, NJ
Posted

Hello fellow investors, 

I am considering buying a large multifamily which has knob & tube wiring throughout and trying to figure out how much it would cost to update it. If you have ANY experience with this, please share. Especially if you have info on how much it costed you and the specifics of your job, that would be very helpful in estimating my cost and whether this property is a good investment or a bad one. Here are the details: A 2-unit multifamily (2500+ squarefoot) located in central Connecticut.

Thank you! 

Login

Most Popular Reply

User Stats

1,543
Posts
1,100
Votes
Kevin Romines
  • Lender
  • Winlock, WA
1,100
Votes |
1,543
Posts
Kevin Romines
  • Lender
  • Winlock, WA
Replied

You really need to talk with your insurance agent. you wouldnt want to think you have coverage only to find out at claim time that maybe you don't? No insutance companies that I'm aware of will insure a structure with knob and tube. Even if you get that policy in the beginning, they can still deny the claim. This is a very serious issue, all knob and tube must be eliminated to get the coverage your going to want. This can be very costly to open up all the walls and essentially rewire the hole house including the panel. I have the unique experience of being an 11 year vet. of the electrical industry and an insurance agent for years as well.

Loading replies...