Financial Fridays: It’s Financial Suicide To Own A House
James Altucher
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Insurance. When a homeowner suffers a casualty due to unforseen acts such as floods, hurricanes, snow, etc., the insurance company will reimburse or pay the homeowner/landlord for costs associated with the loss, provided there weren’t any conditions excluded by the insurance policy.

Insurance makes it easier for the homeowner/landlord to make repairs after a calamity like Hurricane Sandy. Landlords/homeowners may not bear all of those repair costs themselves which enbles them to remain profitable on their investment.