Buying an investment property requires lots of thought, but not just the typical questions pertaining to size-location-amenities-target market-financial considerations, etc., but also insurance matters.
What do I mean by insurance matters?
Insurance companies are denying coverage for properties that have old roofs, polybutylene plumbing, 60 amp electrical service, fuses instead of breakers and certain electrical panels, such as Federal Pacific.
Luckily, with any problem there is always a solution that knowledge and experience can solve.
Print this article and bring it with you when property hunting and don't be afraid to ask questions!
And lastly, if you find a Federal Pacific panel, for example, expect to hear from the sellers agent that "their insurance company has no issue insuring the property." WRONG! Get the name of the company and have your agent call to verify! In every instance I've encountered, the current insurance company will refuse to issue a new policy unless the panel is changed.
Feel free to text/call/email me at 407-595-4841 or OrlandoHomesUSA@gmail.com