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Fay Chen
  • Investor
  • Los Angeles, CA
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207
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Why is the insurance so high for my 4-plex?!

Fay Chen
  • Investor
  • Los Angeles, CA
Posted Jun 29 2015, 14:50

I'm closing on a 4-plex in Dallas and just got a sticker shock for the homeowners insurance. My broker quoted me $6800 per year! Even the current owner is paying $5700! So I asked my broker to shop around more. Is that the norm? Why is it so high?! Now my COC is only 5% :(

Here's some info on the property:

Purchasing Price $298K, 4-plex, 2 bed 2 bath each all in one building. Built in the 1980's. Location: North Dallas 

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