We recently heard a lot of positive news about the Real Estate market in the Daytona Beach area, as in so many other places. The housing market has been getting stronger lately. One of the reasons is that investors are coming back into the market, then buying up distressed property and fixing the properties up in order to rent their property at a positive cash-flow.
As Real Estate investor, whether you buy in Port Orange, Daytona Beach, Ormond Beach or elsewhere you need to look into two separate home insurance policies.
First, you are required to have home insurance when you buy a property financed with a mortgage or bank loan and your are also well advised to get insurance if you plan on remodeling and renting your property to limit your liability. Always make sure you get the insurance in place early just in case something unexpected happens such as a named storm that could prohibit you from getting the insurance bound in time for closing on your property.
Secondly, once you rent your property, you are advised to demand renters insurance from your tenant in order to protect you, your property and your tenants’ belongings.
Contact Sherzer Insurance today, if you plan on investing in Real Estate. Sherzer Insurance agents are well versed in Real Estate transactions and renter’s insurance and can walk you through any potential insurance scenario.