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Updated about 9 years ago on . Most recent reply

Fay Chen's profile image
Fay Chen's profile image
Fay Chen
  • Investor
  • from Los Angeles, California
  • Member since Feb 14, 2015
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Fay Chen's profile image
Fay Chen's profile image
Fay Chen
  • Investor
  • from Los Angeles, California
  • Member since Feb 14, 2015
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Fay Chen
  • Investor
  • Los Angeles, CA
98
Votes |
208
Posts
General Landlording & Rental Properties

Why is the insurance so high for my 4-plex?!

Fay Chen
  • Investor
  • Los Angeles, CA
Posted

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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Johann Kleisch's profile image
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Johann Kleisch
  • Rental Property Investor
  • from Evansville, WI
  • Member since Jun 17, 2015
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Johann Kleisch's profile image
Johann Kleisch's profile image
Johann Kleisch
  • Rental Property Investor
  • from Evansville, WI
  • Member since Jun 17, 2015
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Johann Kleisch
  • Rental Property Investor
  • Evansville, WI
33
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106
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Johann Kleisch
  • Rental Property Investor
  • Evansville, WI
Replied

Be sure to get an actual insurance quote BEFORE to make an offer next time.

Best of success!

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