All Forum Posts by: Gerald Valentin

Hot! This 2br/1ba home in Knoxville is an investor's dream! Similar homes are flying off the market for $85k-$95k. Home is priced to move for a rehabber. Estimated repairs are $25k.

Hello! I've got a house under contract that I am wholesaling for the aforementioned price. The house is in good condition, and has been rented by the same tenant for many years. I have been to the property and have many pictures of the inside and the outside. Buyer to confirm all data.

Thank you, Aaron Lovett. I'll keep you in mind!

I agree with the above to posts, but wanted to add that through some candid conversations with GCs in Knoxville, I understand that the mark up for a GC is about 40%. So after all materials and labor from all of the different sub contractors for the project, a GC will charge 40%. Hope this helps!

Hello!

I'm less than 45 days from launching my full-time flipping business, and I'm completing my team. I'm looking for a REI-friendly agent who is willing and able to take me on as a client. Message me if you're interested so that we can talk more about my business model, your background/expertise, and mutual expectations.

Thank you!

Jerry Valentin

Hey guys, I wanted to close out this post with two topics. First, I want to thank everyone who hopped on here to give advice, it was well heeded and greatly appreciated. Second, I want to point everyone towards the solution that I found: REI Guard. Their premiums, even on a monthly basis, were less than several other quotes that I got. In fact, they were the best. So for anyone who's flipping and looking for insurance, check them out! Additionally, contact Jason Bott if you're interested. Not only can he provide you with an appropriate policy with REI Guard, but he can also help flippers into insurance policies that make more sense when it comes time to hold.

Jerry Valentin

@Emily Golec and @Jeff Filali, Thanks for the help! I'm going to call REI Guard right now. Emily, Unfortunately I don't have homeowner's insurance right now because I'm in an apartment, but I'll be wary of term policies. Thanks again!

Hello everyone! I'm about to close on my first flip but due to the quick turn around, the work that needs to be done to the property, the property's ARV, and the fact that no one will occupy the premises, I've had a hard time finding an insurer to purchase a three or six month home insurance policy from. The two quotes I've been able to solicit so far are coming in at $1700+ for six months on a "Builder's Renovation" policy and $1100+ for 3 months on a "Vacant Dwelling" Property. Do these figures seem correct? Am I barking up the wrong policy "tree" altogether?

More about the property: Buying at $80k, conservative ARV is $300k, will need $110k in repairs. Great neighborhood, great school.

Thanks!

Jerry

Victor, thank you for the invitation! I have been meaning to connect with Knox Reia and will take this as a personal invitation to do so. Thanks again!

Jerry

Thank you Alec Harmon! I grew up in the Rockies, so it's a change of scenery, to be sure.