All Forum Posts by: Patti Rosepiler

I'm working on getting my first flip in Tampa as well.  I found a property, just working on the finances too! I have about 3 scenarios to obtain it, but getting homeowners insurance on it with older electrical, etc is a real pain right now. I am hoping to just pay higher premium to get it, then have it lowered after some updates...if the ins people would just respond...sheesh

Wow!   I am following this story on pins and needles! 

@Kurt Traynor,  I still haven't heard back from any of the insurance co that I reached out to (hopefully Monday). I may just have to pay the HIGH price until I can get it updated, then maybe a lower rate.  If your roof, elec, etc has been updated, then you may not have any trouble.  How much are they charging you for a 4 point inspection? 

Thank you Nick!   I have reached out for quotes, but no responses.   I will try Trusted Choice. 

Thank you guys!  I cannot pay cash.  I have a house on the water in NC and if that sells then maybe, but this is a time is of the essence thing. It isn't on the market. I know the owner personally and it is in a GREAT neighborhood!  My gut is screaming at me to do this.  LOL!  I have read, studied, watched and listened, but I need to jump and just when I was praying about it, this came up outta nowhere!   I may have to do hard money lending, but I will have to educate myself on that QUICK.  I would immediately have 2 Air Force renters (who pay their bills) if I could get my hands on this.  One being my daughter, so I know I could renovate it while she is there paying the bills.   She wants about $170,000 and there are flippers buying them and leveling who have put up $600,000 homes or doing basic reno and getting $260,000.   I really feel I need to jump before she markets it.    

  In a 1950's home (Florida), I am hearing that the insurance will be MUCH higher due to old electrical, plumbing, etc.  I have tried to speak (and email) several companies, but no responses. Any of you have experience on this? Did you have to update all these right away to bring down your costs?    The owner no longer has a mortgage on it, so she doesn't know.  I am just trying to get educated on it before I give her my offer.  

I am building my own personal home in Nassau county between I-95 and the beach (Fernandina) because of exactly what you said...people are flocking that area and I have to move every few years for my husbands job, so we always have to sell and need it to move fast plus make $ when we do.     We are looking to invest on the side but I can't find multi-family that is nice in Nassau county.    Jax, FL  (Duval) just BE CAREFUL!  I see a lot on the BP Marketplace for sale that I KNOW are BAD areas.  Check Loopnet multifamily in Orange Park area. I was looking there, but am now distracted by an awesome deal in South Tampa.  I am familiar with Tampa too because I used to live there and am now there constantly because my daughter is stationed there.   Baker is SLOW moving for now. It's super affordable, but I didn't chose there because things sit on market for awhile and low rents...it's still pretty rural. Nassau is the way to go or South Tampa.  Just my 2 cents!

Wow @Brandon M.!  Looks great!  I think we have the same taste. LOL.   Thank you for sharing.  I have a property to unload in NC (hopefully close in July) to be able to purchase this home in South Tampa...I know the person that owns it and they just happen to mention that they were needing to sell. I believe it would be a GREAT flip.  It isn't on the market. If for any reason I cannot obtain it, I could let you know the details if you are interested. I will be down in Passe Grille beach this weekend, but busy with family entertaining, however, if you ever want to meet up and talk RE, I'd LOVE to know someone in the area! 

@Brandon M., I will.     Also do you mind sharing the costs? 

It is a pitched roof. I may buy it even if I don't raise it.  It's in Tampa near the water so I just figured it could fit the more high-end, modern look that is desired there than the old school low ceilings.