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Updated almost 5 years ago,

User Stats

32
Posts
41
Votes
Jeff Kobernus
  • Real Estate Agent
  • El Dorado Hills
41
Votes |
32
Posts

What are you flippers doing insurance wise? 3k quote??

Jeff Kobernus
  • Real Estate Agent
  • El Dorado Hills
Posted

Good evening Bigger Pockets. I am in escrow on a property in Sacramento that is off market and due to close in about 2 weeks. Most of all my real estate has been buy and hold.  This property in particular I am debating what I want to do do with it.  I may flip it, I may keep it as a long term rental or I may end up using it as a second home and then renting it full time down the road.

What are the flippers doing insurance wise?  I have am getting financing putting 25% so having my insurance squared away will be required.  If I end up flipping it what kind of insurance policies are you guys getting?  I was quoted 3k for annual insurance since it will be "VACANT."  This insurance agent has done about 5 of my properties and a ton of my clients.

Is insurance really the much more because its vacant for 3 months?  My remodel is about $75k and 8-10 week job.  Depending how it comes out and how much I end up spending will determine what I end up doing with it.

Any help ?? Thanks

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