All Forum Posts by: Teresa Phillips

I’m considering purchasing my first property. I have looked in several areas nearby but I’m interested in a property about two hours away. It would be much less expensive and it appears that that market appreciates at the national average rental rates increase  at a slightly higher rate than the national average. I believe I need a property manager because I have a lot to learn and because I will be two hours away. I am unfamiliar with the contractors in that area. The property I’m looking at already has a property manager so if he’s good I would like to keep him. What questions should I ask when I speak to him? He does not appear to be a member on bigger pockets.

Thank you this does help. I appreciate your taking the time to share your knowledge.

Thanks so much. I am unfamiliar with landlord insurance but that makes sense. I will research it.

This is the first time I have posted here so I’m not sure if I’m doing it correctly but I have a question. I am currently saving and studying and hope to purchase my first property in the spring. I am relatively certain I would like to do a house hack with a duplex or triplex. One of the books that I read said as part of my education I should practice underwriting properties to determine cash flow to learn if the property is a good deal. I understand that one part of the cash flow equation is the cost of homeowners insurance. How do I estimate this cost when looking at a property online? If I were actually purchasing these properties I would get this information from my insurance company but since I’m just practicing I wonder if there is an equation to get a ballpark idea. I currently live in a condo so I have never actually had a homeowners policy for a regular home.