Updated almost 11 years ago on . Most recent reply
Insurance Estimation
Hello all,
As we're just getting started, I want to ask the forum members about insurance expense. We're hoping to get a number of Buy/Hold SFRs around the Cleveland to rent out. We hope to get some low cost homes for around $40K (after rehabbing) and renting out for around $800/month. My question concerns insurance expense.
Would someone please give me an estimate for insurance expenses. I'm not sure if I need anything more than liability insurance, as the properties themselves are being acquired at such a relatively low cost .
Any inputs would be greatly appreciated.
Most Popular Reply
@Michael Klein just reach out to your insurance agent for a quote on a deal you are remotely interested in, they can quote coverage without an inspection or even visiting the property. If you are getting a loan you will need insurance coverage beyond liability, even if you paying cash insurance makes sense to have in place.