All Forum Posts by: Johnny Diamantas

Hello everybody! I've seen many discussions here about insurance on vacant properties that investors are rehabbing. However, I'm doing a wholetail deal currently and am seeking advice on how much insurance should cost. The house is vacant, needs repair and is being sold as-is. No rehab will be performed. I just need to cover my investment while it's on the market (expected 30-60 days). I received one quote of $660 for 4 months ($500 deductible and no vandalism window coverage) but that seems very high. Any advice and/or referrals is much appreciated!

Hey Don, thanks for the kind words! My apologies but this house is sold. I'm trying to figure out how to take this posting down now. Send me a PM if you're looking for other deals around the Tampa Bay area. Talk soon!

Welcome & best wishes!

3/2 frame + 1/1 apartment on top of detached garage in the rear. 

Total sq ft: 2,139

Price $36,750
Rehab $50,000
ARV $150,000

Full rehab needed. Link to view interior & exterior pics:

https://drive.google.com/folderview?id=0B2gB0zxAEtU-MEFOVUh4MWpJTjA&usp=sharing

Price includes paying off back taxes and Code Enforcement liens on the property.

Nearby property sales:
1008 E 31st Ave 3/2 1550 sq ft $165,000 (11/15)
909 E 31st Ave 3/2 1200 sq ft $124,900 (10/15)
1007 E Lake Ave 4/2 1570 sq ft $185,000 (8/13)

All offers are subject to approval. Estimates are based on our opinions; buyers are responsible for their own due diligence. Sales are cash only. $2,500 non-refundable deposit required.

Awesome man! Sounds like you set a goal and crushed it. 

Matt, I'm new to rentals myself, (I've primarily done wholesaling) but I would inquire further as to why there are no HOA fees. Was the HOA disbanded?