Rehabbing & House Flipping
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 5 years ago,
What are you flippers doing insurance wise? 3k quote??
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