Updated over 2 years ago on . Most recent reply
How much for property insurance on a quadplex
Hi - I am looking at possibly purchasing a quadplex in Shippensburg, PA. This is my FIRST rental property. I am wondering how I can estimate the cost of property insurance? The mortgage lender quoted me 1200 per year but he quotes that for duplexes and this is a quadplex which I'm assuming would be higher. Also since I don't have an LLC, I was thinking it might be important to have an extra policy for liability coverage. Does this get coupled with the property insurance or is that a separate rider and I have no idea how much that would be as well? I'm looking for some info on numbers so I can make sure this property will cashflow enough to purchase it. Any help would be appreciated.