How are you approaching deals with excessive insurance premiums?

[Eddie L.]

I have a decent deal under contract that doesn't meet my criteria for a landlord hold. However, it is an excellent deal for a flip. My concern is the insurance premium that would prevent a retail buyer from purchasing. I've beat the weeds to find carrier writing policies in Harris County; these are my best numbers. What are your thoughts?

Purchase Price: $215,000
ARV: $275,000

Tax Assessed: $300,000

Rehab: $8,000

Rental Rate: $2,300

Landlord Insurance: $2,500

Home Owners Insurance: $5,000

Property Taxes: $8,000

Year Built: 2018