Hi everyone,
This is my first question on the forum. I`ve already learned so much from reading your posts, and from Don`s books!
I hope this isn`t a stupid question, but how do you estimate insurance costs for an investment property? I`m trying to buy a house in Hamilton to rent out. I know the insurance cost will depend on the specific property, but what do you plug in as an estimated insurance expense when you`re looking at the numbers to help you decide if a place is worth buying (or even seeing)?
Also, if you have advice related to insurance, I`d really appreciate hearing it. The whole idea of insurance worries me. I`ve heard it`s hard to get it on a rental property. (I keep thinking `What if I buy a place and then can`t get insurance or it costs an arm and a leg?!`)
Thanks!!
This is my first question on the forum. I`ve already learned so much from reading your posts, and from Don`s books!
I hope this isn`t a stupid question, but how do you estimate insurance costs for an investment property? I`m trying to buy a house in Hamilton to rent out. I know the insurance cost will depend on the specific property, but what do you plug in as an estimated insurance expense when you`re looking at the numbers to help you decide if a place is worth buying (or even seeing)?
Also, if you have advice related to insurance, I`d really appreciate hearing it. The whole idea of insurance worries me. I`ve heard it`s hard to get it on a rental property. (I keep thinking `What if I buy a place and then can`t get insurance or it costs an arm and a leg?!`)
Thanks!!