Insuring Your Investment
Comments: (0) Written by: Duane LeGate Date: March 26, 2008Today I want to offer a quick tip. My grandmother used to tell me that the most important things in life were the simplest—those things that are right in front of your face. This is one of those.
I wish I had a home for every time I have seen someone buy a foreclosure and not IMMEDIATELY a homeowner’s insurance policy for the property. It baffles my mind that people take on this kind of risk. We all know that foreclosure investing isn’t a spectator sport, and, as such, risk comes with the territory. But leaving yourself exposed this way is just asking for trouble.
Imagine all that could happen between when you purchase the property and when you take possession of the property, especially when a distressed homeowner is being forced out of his house. Protect yourself. Buy an insurance policy on every foreclosure in which you invest IMMEDIATELY.
It will make my grandmother happy.
