All Forum Posts by: Jennifer C.

Thank you all for your input.  I followed up on several of the insurance companies you all recommended, and it looks like the best option for us is a general property liability policy. So a piece of advice to any new investors who think a condemned property is a sure thing:  do your homework BEFORE you get it under contract!  The insurance issue is the least of our roadblocks!

Hi everyone.  I appreciate your time reading this and throwing me any information you might have that could help me with an insurance question.

As new investors, my husband and I are close to closing on our first property, a condemned home that is going to need full rehab.  We plan to sell it to a rehabber, and at most we will clean it out and perhaps do a very light pre-hab.  We're too new to try to tackle an actual flip.  I have been talking to a few insurance companies about our options for covering this property and I have gotten some really confusing responses.  The home, obviously, is not occupied.  It's also very small (about 970 sq ft) and therefore very inexpensive for us to purchase.  

That's all good and well, but the most recent agent I spoke with told me "it's too small and too low-cost to insure with ANY type of policy."  I kind of find that hard to believe, and that answer seems weird to me, but that's why I'm putting the question out there for more experienced people to help me out. 

I will continue doing my homework (not asking for a free ride!), but I was hoping someone out there could point me in the right direction with different types of policies for this type of property and our exit strategy.

Thanks a lot!  

Good evening. Glad to be a new member of BP and I'm learning a lot from previous posts. I haven't yet found some info I'm looking for, and I'm hoping some of you could share your suggestions with me. I am starting out learning how to wholesale properties, and I started Driving for Dollars last week. So far I have identified 585 potential homes that appear vacant or distressed. I am following the formula below and am kind of stuck on #2.

1.Find distressed properties

2.Research and identify those with real potential vs no real potential at this time.

3.Mail property owners with specific letters

Essentially, I am not exactly sure what I need to be researching in order to qualify these properties to remain on my Driving for Dollars mailing list and actually receive a letter. How do I narrow in on those properties that have real potential (equity) vs those that don’t at this time? What are others using as selection criteria for their mailings?

I have looked up each property on the County’s Appraisal District and have captured the following:

1.Owner name/mailing address

2.Estate, Corporate, or Individually Owned

3.Unpaid taxes

What other criteria should I be using to rank them? How do I identify the ones with real potential? I'm excited to get started but don't want to waste money/time mailing to the wrong people.

Sorry for the long post... and thank you for your help.

Good morning. Glad to be a new member of BP and I'm learning a lot from previous posts. I haven't yet found some info I'm looking for, and I'm hoping some of you could share your suggestions with me. I am starting out learning how to wholesale properties, and I started Driving for Dollars last week. So far I have identified 585 potential homes that appear vacant or distressed. I am following the formula below and am kind of stuck on #2.

1.Find distressed properties

2.Research and identify those with real potential vs no real potential at this time.

3.Mail property owners with specific letters

Essentially, I am not exactly sure what I need to be researching in order to qualify these properties to remain on my Driving for Dollars mailing list and actually receive a letter. How do I narrow in on those properties that have real potential (equity) vs those that don’t at this time? What are others using as selection criteria for their mailings?

I have looked up each property on the County’s Appraisal District and have captured the following:

1.Owner name/mailing address

2.Estate, Corporate, or Individually Owned

3.Unpaid taxes

What other criteria should I be using to rank them? How do I identify the ones with real potential? I'm excited to get started but don't want to waste money/time mailing to the wrong people.

Sorry for the long post... and thank you for your help.