Updated almost 7 years ago on . Most recent reply
Estimate Insurance Quote
Hi Everyone,
Hope you had a good weekend!
Is there a back-of-the-napkin calculation for insurance quotes for small (2-4) multifamily properties? I'm looking for a quick way to add to my underwriting when I receive Seller Expenses that do not account for Insurance. Should I use, say 5% of purchase price? 3%? I'm looking in Kansas City, MO, if that helps.
Any insight would be much appreciated. Thank you!
Most Popular Reply
@Snehann Kapnadak i would say there isnt really a "back of the napkin" calculation for insurance cost. there are so many different variables that can make one rental vary in cost from another. zip code, construction type, square footage, age of house, SFH vs multi-fam. I would just make friends with a local insurance agent who doesn't mind running a quick quote for you every time you offer on a house