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Updated almost 9 years ago,

User Stats

104
Posts
22
Votes
Brady Boyer
  • New York, NY
22
Votes |
104
Posts

Property Taxes and Property Insurance

Brady Boyer
  • New York, NY
Posted

I am currently working on trying to become better at analyzing deals (essentially get more accurate inputs so my output coming out of the calculator is more accurate). I had a couple quick question for you investors.  

1.) Are property tax rates different (higher) on an investment property than on your primary residence?

2.) Should I budget for property taxes to be higher than what the previous owner is showing on their pro forma assuming I am buying the property at a higher price than the current assed value listed by the county?

3.) Is it generally more expensive to insure an investment property than a primary residence?

4.) Would the homeowners insurance cover any damage caused by tenants? (For example if I have to evict them and they knock down walls etc.)

Thanks for any help you can provide!

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