Pensacola FL and Baldwin Co AL

[Harry Gamble]

I've been buying and renting (some flips) single family houses in the Birmingham, AL area for 7 years, and things have gone well. I would like to move (and "move" this business) to either Pensacola FL and/or neighboring Baldwin Co., AL. I know the area fairly well and have a few contacts. I am not planning on investing in Condos on the Gulf, I am focusing on houses not on the water. However, being a hurricane target area I know any house will require expensive flood and wind damage insurance. My understanding is that the cost of the insurance will depend on the flood zone rating. This seems like a deterrent to investing in homes in these areas. I guess the plus side is being near the coast, but I don't know if rents would be any higher. After selling my current houses I will have some capital. Also I am not ruling out new construction and/or commercial or multi family. Any input on my situation is greatly appreciated!

[William Allen]

The insurance on most of my rentals is under $1k per year for the newer houses and $1500 per year for older homes. These are $250k homes and up