Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Ryan Thomas

Ryan Thomas has started 11 posts and replied 110 times.

Post: Will insurance cover storm damage to an old roof

Ryan ThomasPosted
  • Realtor
  • Scottsdale, AZ
  • Posts 125
  • Votes 50

@Josh Shafer

Hey Josh, I’m a commercial insurance broker. where and what kind of property? Honestly if it’s coastal Texas or Florida you may be damn near self insuring with the crazy wind/hail percent deductibles that have become the norm. A lot of policies have a 20-25 year old actual cash value clause that just means you get worse coverage if it’s that much older. Let me know if you have any questions!

Regards,

Post: Having trouble finding insurance on detached unit

Ryan ThomasPosted
  • Realtor
  • Scottsdale, AZ
  • Posts 125
  • Votes 50

@Amit Patel

Hey Amit,

I’m a commercial insurance broker. As mentioned it’s very easy. I mean it’s classified as a 1-4 unit dwelling so you could write on a personal lines form or commercial. I’d look at asking any other broker and they will easily provide a quote day of.

Regards,

@Mike Zaven

Hey Mike, I’m a commercial insurance broker who focuses on multifamily. I work here in Scottsdale and do real estate part time at Keller Williams. I’d be happy to connect!

Post: Considering an Independent Insurance Broker; currently w/Allstate

Ryan ThomasPosted
  • Realtor
  • Scottsdale, AZ
  • Posts 125
  • Votes 50

@JJ O.

Hey JJ,

I’m an independent commercial insurance broker. Yes you will be limited using a captive agent so it sounds like it is time to connect with a commercial broker. I would advise you use one with experience writing real estate portfolios and multifamily. A local agent doesn’t really matter as most brokers write in all 50 states. Please let me know if you have any questions!

Post: Where would you move to in the US for rental property investing?

Ryan ThomasPosted
  • Realtor
  • Scottsdale, AZ
  • Posts 125
  • Votes 50

@Khaled El Khoury

Phoenix Arizona. Best place and will be for a while.

Post: High deductible property insurance

Ryan ThomasPosted
  • Realtor
  • Scottsdale, AZ
  • Posts 125
  • Votes 50

@James O Trust

Hey James without any knowledge on the property, I wouldn’t be able to help. I specialize writing multifamily properties. Some larger real estate portfolios can qualify for 100k+ deductibles if they provide financials proving they can pay the claim. Same with medical businesses. In Florida, your wind/hail deductible will already be extremely high so your pretty much self insuring the roof anyway. Let me know if you have any questions!

Post: Multifamily Property/Landlord Insurance

Ryan ThomasPosted
  • Realtor
  • Scottsdale, AZ
  • Posts 125
  • Votes 50

@Donald Mitema

Hey Donald,

I’m a commercial insurance broker. John is right but if you are using a loan secured by Freddie or Fannie they’re insurance requirements will make sure your squared away (for the most part). However private lenders are used on a lot of smaller deals so you’ll want an agent who understands how to insure multifamily properties.

Its common to ask the seller for any insurance information. It’s also common to ask the lender if they can provide a quote. Stay away from captive carriers like state farm and farmers, they only have one carrier they can use and brokerages have many. Let me know if you have any questions!

@Amy He

Hey Amy, I’m a commercial insurance broker in Scottsdale and use my real estate license for my own investments and friends. Please let me know if you have any questions as it relates to insurance! Tempe is awesome!

Post: Looking to make multi-family connections

Ryan ThomasPosted
  • Realtor
  • Scottsdale, AZ
  • Posts 125
  • Votes 50

@Amanda Davi

Hey Amanda, I am a commercial insurance broker who specializes in writing multifamily properties nationwide. I’d start with 1-4 units as you can use a conventional loan. Anything above 4 units all have to be commercial loans. Let me know if you have any questions as it relates to insurance!

Post: The Misbachs - Coming to Tucson

Ryan ThomasPosted
  • Realtor
  • Scottsdale, AZ
  • Posts 125
  • Votes 50

@Camille Misbach

Welcome Camille! I’m a commercial insurance broker that specializes in writing multifamily operating out of Scottsdale. Please let me know if I can help with anything as it relates to insurance!