All Forum Posts by: Jordan Kim

Hello BP community,

I am thinking of getting home insurance on my recent flipping project in DE.  I need an insurance company that will insure vacant house in DE.  Any suggestion?

I learned my lesson on my last project by having my brand new AC stolen from the vacant house.  I figured I could get by not having insurance since it was quick flip (4month), and it was pretty decent low crime area (rural).  Boy I was wrong.  Later, I've heard that there are crooks going around stealing outside AC units.  Having say that, the insurance policy should cover any theft and vandalism.  :)

Please let me know if you know any!  Thanks!!!

Hi Eddie,

Here is my suggestion.

1. Do a CMA - see what has been sold in near area for similar house.

2. Find out if there are any active and pending sales that is similar to subject property.  

3. Visit the property to find out what kind of fix up you need to adjust the value of the property.

4. Read the market trend for the area. Is it selling fast? slow?

5. See how long property has been on the market.

6. Find out as much as you can about the owner of the property.  Are they motivated?  Why?

7. Make an offer based on number 1-6.

Hope I didn't miss anything!  :)

So how much did it cost to remove oil tank full of oil?  Did you have to go through hoops for that? (any environmental issue)?  LOL were you able to sell the oil in the tank?

Wow...this is the most hands-on and informative posting.  I love it!  What sources do you use to find the properties?