All Forum Posts by: Donald J Glidewell

Missed this again. Can you put me on your email list to get a heads up for the next one. 

Thanks Don 

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916-599-5284

For those of you that have commented they self insure, are you at a minimum getting liability coverage only or are you saying you are bare on that too?

A number of properties I look at in St. Petersburg have Section (8) tenants.  Common advice is to have the rental vacated before close so you start with your own screening and acceptance of the tenant.  If the seller is representing tenant has been good from a hassle factor perspective and you have the government paying the rent, seems like it might be safe to keep the tenant in place, avoid some vacancy and create a stronger offer by accepting an existing tenant.   Any horror stories or happy endings anyone can share?  Thanks

Ok so here is the update on insurance for a 1500 sq foot block home on a slab.  I could not get a quote even until I got rid of the polybutylene repipe.  Got this done at about $4,500.  In the interim, I put a rehab non-occupied liability and hazard policy on it.  Annual premium of $3,000 with a six-month earned premium.  So timed the poly replacement accordingly and have finished all the rehab.  I go back to the same large agency in central Florida and get a quote on a permanent policy.  Assumed it would go down, but no $4,000 per year after the repipe and rehab.  I'm told by the agent to consider myself lucky, there were two companies will to even quote it.  I'm shocked and disappointed, it is a sound nice house in a good area.  Electrical is not the issue, but rather the roof.  It is comp shingle last done in 2013.  4 point inspection noted it is good shape no leaks and good life left.

This insurance bubble is really causing me to rethink further investments in Florida!  Very hard to make a deal cash flow.

Winter Park Florida SFH Having trouble getting any quote for insurance due to the normal underwriting concerns, roof, age etc, but what seems to be the roadblock right now is the partial repipe with Polybutylene. I'm a week away from closing on an all-cash offer (so is not the lender).

Recommendations?  Is there such a thing as a rehab/construction period policy to get the piping changed over?  Does anyone know of a company with will take on this risk albeit at a high premium until rectified?

Suggestions solicited and welcomed.  Don