Wood Frame House in Florida - Yay or Nay

[Kelly Iannone]

Looking through some duplex opportunities in Tampa, Fl and found one that meets the 1% rule and has room for forced appreciation...big downside at this point is that it’s Wood Fame instead of Concrete Block. With hurricanes I’d prefer concrete block...should this be a deal breaker? Or is that what insurance is for? Are insurance premiums significantly higher for wood frame in Florida? Thanks!!!

[Corey Morrison]

I own a wood frame home in Cape Coral. I prefer concrete block.

We have not had issues with termites, but the moisture here has played a role in higher maintenance costs with wood rotting from a poor stucco repair from the previous owner.

Our insurance has increased to over $1700 from $1200 last year with no claims. Heck, we even had a new roof put on right before Irma and it’s held up just fine. I just think that’s too much to pay, so we’re ditching them.

Are you planing to buy/hold or flip it?