All Forum Posts by: Jessie Kristie

Adding some missing information:

Property is single story SFR with 3 beds, 2 baths. Purchase price 247k.

Hi all,

I was wondering if anyone could give me advise on landlord policy.  I'll be closing on my first rental property soon, and I've been shopping around for insurance quotes.  Below are 2 quotes I received: 

1) $1,723/yr for 300k liability, 225k dwelling with $2,500 deductible

2) $1,982/yr for 500k liability, 267k dwelling with $1,000 deductible

I'm thinking to do $2,500 deductible for lower monthly payment but unsure about how much liability coverage I would need and should get.  I was also wondering if those quotes seem fair for landlord policies in zip 35758.  Any advise would be greatly appreciated.  Thanks!

Jessie

@Sahil Agnihotri

It all depends on your goals and comfort level. I did 45-50% when I first started out. Now I do 35-40%. I only buy what I need (no TV, new phone every 7-8 years, new car every 200k miles, etc.), but I do travel few times a year.

@Shawn Saylors

If the math works, you could do both at the same time. Personally though, I’d rather pay off the debt first for peace of mind. Good luck deciding!

@Trent Lee

Hi Trent. I usually go to niche for the neighborhood and schooldigger for school ratings. I also find city-data forum to be helpful. Lastly, I would search this forum for past threads and recommend talking to local agents. I hope this helps!

Hey everyone,

Late reply here but was wondering if there was any upcoming group event for local investors.. I’m OOS and will be in town 7/25-7/31 to close on my first investment. Would love to connect with locals and expand my network in Huntsville!