All Forum Posts by: Michelle Sobalvarro

Thank you @Michael Norris, appreciate the insight. 

Thanks for the additional info @Jerry V.

@Owen Rosen Thanks for the reply. The roof is 7 years old. I switched insurance carriers because State Farm was less expensive (and perhaps this is one of the reasons why). Although from what I read, State Farm is rated highly for rental units. I suppose it's a matter of weighing options - looking at the potential increased cost of fixing/replacing a damaged roof at ACV verses paying a higher premium for an insurance policy that pays out replacement cost, and see which one makes more sense. It took me by surprise that on the new policy everything was replacement cost except for the roof. It sounds like it isn't that uncommon though.  

I recently changed dwelling policies to State Farm and they include “Roof Surf Loss Settlement - ACV” in the forms, options, and endorsements section. This wasn't on my previous policy with Safeco. I asked if it could be removed and she said that the roof surfacing is added to all RDP and that it does indeed go off of the ACV minus depreciation. This could be a huge expense if I run into roof damage but it doesn't appear I can take it off (it comes with a $22 savings which I'd happily remove to have replacement cost). The rest of the insurance is all replacement cost. Anyone else run into this or know if this is normal? Thanks!

Hey there, checking out the thread. So, did you go for it?!

@Chase Keller & @James Nicholson Sweet, thank you! As I start diving in to Des Moines more I will reach out for sure :)

@Trexie E. & @Dave Visaya Thank you for the warm welcome! I'll definitely reach out with questions as they pop up. Appreciate it!

Greetings all! I recently became a member of BiggerPockets. I live in Southern California and got into real estate last year. I'm preparing for my next investment and am looking at Kansas City (currently own there) and am also researching Des Moines as I've heard the area is growing a lot! I have single family homes and am looking to get into multi-family. I'm reading and researching and welcome any insight or wisdom you have! I'm also interested in chatting with anyone doing real estate in Puerto Rico. Thanks and I look forward to connecting!