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Updated almost 5 years ago on . Most recent reply

Jeff Plotkin's profile image
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Jeff Plotkin
  • Rental Property Investor
  • from New York City, NY
  • Member since Jul 8, 2018
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Jeff Plotkin's profile image
Jeff Plotkin's profile image
Jeff Plotkin
  • Rental Property Investor
  • from New York City, NY
  • Member since Jul 8, 2018
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Jeff Plotkin
  • Rental Property Investor
  • New York City, NY
11
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41
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General Real Estate Investing

Is insurance needed during rehab on a cash purchase?

Jeff Plotkin
  • Rental Property Investor
  • New York City, NY
Posted

Closing on a BRRRR deal in two weeks and I was wondering if I will need insurance during the rehab phase of the deal. Is it ok to wait until I refinance?

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Steve Morris's profile image
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Steve Morris
  • Real Estate Broker
  • from Portland, OR
  • Member since Sep 26, 2019
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Steve Morris's profile image
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Steve Morris
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  • from Portland, OR
  • Member since Sep 26, 2019
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Steve Morris
  • Real Estate Broker
  • Portland, OR
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Steve Morris
  • Real Estate Broker
  • Portland, OR
Replied

Your lender is not requiring insurance?  In any case, if you're doing work to the property get insurance.  The cost is swamped by the potential of loss on the property.

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