All Forum Posts by: Nate Santillanes

I'm a commercial broker. I've found I have a hard time competing with Farmers, American Family and State Farm on the apartments... all direct writers. I have an agent I could refer you to if needed let me know.

Nate

A few have said 'would have started younger'... Would anyone care to throw out how you would start in today's environment if you were given the opportunity to turn back the age clock? Would your age affect your strategy?

I'm a commercial insurance broker and work with many investors. The goal is transfer of risk and that becomes important as the business grows. Pricing can vary by state, but the largest factor in determining whether to place on a commercial or personal policy form is entity type.
If your property is titled to a business and not your personal name (as a quad should probably be) we use a commercial policy as this is more broad than a basic personal policy form. Operating as a business carries more exposure than a simple homeowner and should be considered imo.

I do agree $3k seems high.

Ive had success calling property managers in the given area and asking for an opinion. 3 or 4 property manager opinions become one of the factors in dialing in rates.

Same here Chris!

This reminds of me the saying "how much money is enough for the common man? Just a little bit more!" - I believe that was Rockefeller?

I have to agree with a combination of qk and Greg here, financial independence and freedom are the end goal in my eyes. That doesn't mean not having to "work" but working on/in the things that you enjoy, make you happy, but aren't required in order to live comfortably. Maybe working to manage my own properties, I'm not required to do so as I could hire a PM, but I enjoy doing it! Maybe providing security for your family and those close to you. By definition ditching the "9-5" - I believe real estate can and will provide this freedom for my family and I. I also believe this is an evolving goal that will change and grow as I experience more.

J Scott, I regret to say I don't have a Partnership or Operating Agreement in place... This was the first deal I ever did, and at 20 years old I admit I didn't know what I was doing. Those agreements will always be in place moving forward.

Scott, thank you for the information, I do have an equitible interest but will work with the attorney in fact to cover all my bases.

I have a partner in a SF rental property who is unavailable to sign a lease with the new tenants I am selecting. Do I have to have his signature to execute the lease agreement?

Josh, do the event in Denver so its close to home!

Hi Jerry,
I am a commercial insurance broker and we set up programs for investors like this all the time. Some captive companies (Farmers, Allstate for example) are unable to be as flexible as a broker. I would recommend contacting a local broker in your area and disclosing your situation. We work with investors to pull together many properties under one blanket policy and strucutre umbrellas over the top. Many times these properties are spread throughout the country and we don't have any issues.

If you'd like to talk to me further about it shoot me an email.