BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated almost 2 years ago on . Most recent reply
Columbus OH - Insurance barrier with potential BRRRR property
In contract on a property that will need a bit of work. The price is low enough that I should have room to do at least a decent BRRRR (maybe not a perfect BRRRR). However, I was just informed that home insurance companies are getting REALLY picky about the properties they will insure. As I understand it, they have started doing their own inspections AND refusing to write policies on houses with potential issues (even if they are to be corrected in the rehab).
Is anybody else running into this lately, especially in central Ohio? If so, were you able to do anything about it?
Most Popular Reply
I have not run into this here in Tennessee. I use Tennessee Farm Bureau. I am able to write policies that cover purchase price plus rehab cost. Please keep us updated as you learn so that we all can learn from this experience.