All Forum Posts by: Meghan Purkis

It is not uncommon for insurance companies to have strict requirements for certain types of homes, particularly older homes. It sounds like there may have been some miscommunication or confusion with the terms of your policy with Citizens Insurance.

It's important to speak with an insurance brokerto discuss your options. Some insurance companies will insure older homes, but the coverage and rates may vary. You may want to consider contacting a local independent insurance agent who can help you compare policies and coverage options from multiple insurance companies.

Find a local investors group in your area. Network with other investors. If you have a decent deal, someone may be willing to partner with you to develop it and split the proceeds. Or they may be willing to carry the note for you.

Go to NETWORK at the top of your screen and you can search for other investors and investment groups in your area. You can also check meetup.com or search facebook for real estate investment groups, clubs, or meetings in your area.

I am under contract for a .78 acre parcel in Payson, Arizona. The lot has a water meter and utilities close by - most importantly it’s in a small community that has no restrictions against short term rentals and the county is flexible with my build plans of 3 tiny home cabins. 

I currently have enough capital to complete ~75% of the project but would prefer not to use up all my cash so I have been reaching out to hard money new construction lenders.

Been tough to get some traction… any ideas?

@Michael P. We're actually working on a glamping development up near the Grand Canyon so not too far away! We've been in development for over a year and it's definitely not as easy as some people on youtube make it out to be. We're in the same municipality as someone already mentioned even and theirs is definitely not permitted.

That doesn't mean it's impossible though, just much more time consuming and capital intensive has been our experience but overall, we think that just improves the project. As you've mentioned, check with your county (are you in Maricopa or Yavapai?) I'm definitely not as familiar with either of those and it doesn't sound like your far enough north to be in Coconino County. I can certainly help you in Coconino, we've even been posting our experience on youtube which has helped a few folks.

Definitely let me know if you're in Coconino and I'd be happy to help in any way I can. Regardless, don't hesitate to reach out, I'd be glad to share anything I've learned and really enjoy connecting with folks!