Latest on Mule House re-hab
The fun goes on...... Flippin' insurance company anyway! This week they went from "Ok, you paid $45,500. for your commercial building and will spend $100,000. turning it into a residence, insurance cost $1,500. for 6 months" to "Oh, you say you only plan to spend $10,000. in remodeling, so now we are going to claim your building is really worth $120,000. and charge you $1,200. for 6 months".
The city building inspector who issued my permit felt 10K was a reasonable figure to bring it to residential code. The county property appraiser came to see me this afternoon and agrees. He said there was no way anyone could spend 100K in upgrades in that small a space and my purchase price reflects values in our area.
Next week I'm seeking insurance from other sources. For anyone who wishes to see the property in question, Google 182 W Reynolds Ozark AL and select the Zillow site for pictures.