All Forum Posts by: John Schaeffer

A property manager is a great resource for all the above and more. Sure everyone likes to save money by doing so yourself, but eventually, you would want to scale your business to the point where you can hire a PM to do that work for you. 

Now if you absolutely want to do it yourself, (may get hate for it) I have actually found Zillow rental manager to be a pretty decent way to solo manage your properties and collect re

Hey Michael,

I'm an insurance broker in Totowa.

ALL insurance premiums are rising everywhere and there's nothing ANYONE can do to stop it. The only thing you can do is shop around for a better rate and hope you can get one from another carrier. 

Generally all carriers are now requesting the building to be insured to the full replacement cost which is determined by the carrier. Market cost vs replacement cost are two completely different things and it can sometimes be confusing. 

Generally you want to stick with what you're good at which is investing and your full time job and find a broker who is good at insurance and understands the investment side of real estate as well.

Expanding on my comment further condo insurance is different than a single or multi family home as you are typically insuring the "walls in" of the condo as the association is responsible for the exterior of the building. I generally do $125 per sq ft on a condo for dwelling coverage if it helps at all.