All Forum Posts by: Joe Koppel

I am in the middle of purchasing my first rental from USREEB and I think I will also do some investing in Holdfolio

Hey I need some advice here I am getting my home insurance for my rental right now and he is asking: "Do you just want the minimum of $70 per sq ft to be at replacement cost?"

I'm not sure how to respond, any recommendations???

P.S. Also how much deductible is recommended?

Hi @Nicholas Covington I am pretty new at this I don't know what your referring to with ACV Policy. My lender for my home and my rental is Citi

Thanks guys I am coming to the conclusion that REI Guard is the best price and way to go. I got a quote from Geico and they were $1172. This would result in no cash flow. I thought REI Guard was high but I have learned that the midwest insurance is more expensive because of weather issues. I was paying less than $600 for a 400k house here in San Diego, CA so I thought a $81k house would be less than $600 (wrong!)

So $892 from REI Gaurd doesn't seem so high now

I'm buying a turnkey rental in KC MO for 81k and I was recommended REI Guard Home Insurance so I checked them out and got a quote. It was $831 to $892 per year for two different options. This seems sky high to me since I insured my $400k house in San Diego for less than $600 per year??

Does it cost more to insure a rental and should I insure for the full purchase price?

Any recommendations for another insurance company?

Thanks, Joe

Thanks @Rob Z. I am applying to get a quote and its asking me to select an agent from a big list. If your happy with your agent can you give me the name? Thanks.

Can anyone recommend a company in KC MO to insure the rental that i'm buying?

I currently use Geico (Travelers) for my own home but for a rental is there any discount insurance companies that work with real estate investors? This is my first rental. Thanks.

Thanks Stephanie but this is not my situation. Divorced, had to sell everything including house and want to buy 4-5 rentals. I don't know what you mean by a portfolio lender?

I plan on buying some rentals. I have built a rapport with a lender at Citi that is very eager to be my lender on multiple properties but I don't know a whole lot about the lending end. Are there other types of lenders that will be cheaper?