All Forum Posts by: Dave Lin

$2004 does sound a little high based on my experience.  I have a few clients who has rentals there.  Which insurance company is it?  Safeco would be a good option.  Otherwise if you want to go ACV, Foremost will work.  

@Nick Loukas Check out meetup.com. There are a few local REI groups on it. Good luck.

Hi @Rigo V.,

This question is right up my alley, me being in the area. Assuming you will not be renovating the building; in which case you will need to get a builders risk or a vacant under renovation policy depending on extensive the renovations are.  I personally like Erie, Philadelphia Contributionship or Safeco.  Each one of them has their own appetite.  If the tenant has a dog breed that falls outside of the insurance company's guideline,  eg. Pit bulls, I would recommend State Farm.  I tell my clients to go where they can get the best coverage for their situation, even if not with me. As for liability, being an insurance agent/broker, I always said as much as you can get.  Depending on the company, most will only offer 500k or 1 million liability per property, but you can also get an additional umbrella policy over the properties.  In my experience, the extra liability premium is negligible.  

Disclaimer: I am insurance agent, but not your insurance agent.  What I said are for  general informational purpose only.  There is no client relationship between you and I. Consult your insurance professional before making any insurance choices.

Looks like it is coming along nicely.  Keep it up with the updates.  

Interested.  

Congrats from another investor in Lehigh Valley.  

You should be fine with the 690 and proof of income.  Your higher salary will help to alleviate the lender's fears. 

Was the house occupied by the owner at the time of loss?  If it was vacant, their current insurance may not cover it. You would be better off having the price of the unit taken off your offer instead of waiting on insurance. 

@Chris K. Thanks for the info Chris.

Hi @Chris Engler, another BP user in the Lehigh Valley here.  Good luck with the first property.